US Hotel Occupancy Rates Up in Week Ended March 11
March 20, 2023 | S&P Global Market Intelligence
U.S. hotel industry metrics improved during the week ended March 11, boosted by spring break travelers, according to STR, which tracks the hospitality industry.
Occupancy increased to 64.7%, from 62.8% during the previous week, and was up 2.8% year over year.
The other two key measures also increased compared to the similar period in 2022. Average daily rate, or ADR, was up 8.1% to $158.20, and revenue per available room rose 11.1% to $102.38.
Washington, D.C., had the highest year-over-year increase in occupancy among the top 25 markets, rising 21.8% to 67.6%.
Among the group, the nation’s capital also showed the highest year-over-year ADR increase, up 23.4% to $183.86, and top RevPAR growth, up 50.2% to $124.33.
San Diego reported the largest year-over-year drop in RevPAR, falling 16.1% to $61.99.
Compared to the similar period in 2019, before the pandemic, overall U.S. hotel occupancy was down 7.5%, but ADR was up 16.6% and RevPAR rose 7.8%, according to STR.
