March 20, 2023
US Hotel Occupancy Rates Up in Week Ended March 11
U.S. hotel industry metrics improved during the week ended March 11, boosted by spring break travelers, according to STR, which tracks...

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.

Recent

Most Popular

Blue Vault Q2 2023 Performance Reports Update

Blue Vault Q2 2023 Performance Reports Update

Blue Vault Q2 2023 Performance Reports Update 10-3-2023 Blue Vault wishes to acknowledge and apologize for the delay in publishing some Q2 2023 NTR Individual Performance Pages (IPPs) as well as the full review. We recently added additional reporting metrics to our IPPs, and that, combined with coverage of all share classes and some additional…
Blue Vault Q2 2023 Performance Reports Update

Blue Vault Q2 2023 Performance Reports Update

Blue Vault Q2 2023 Performance Reports Update 9-25-2023 Blue Vault has published the Q2 2023 Nontraded BDC Industry Review as well as Individual Performance Report and Limited Operations pages for the following offerings (newly published pages in bold font): Nontraded REITS American Healthcare REIT Q2 2023 Apollo Realty Income Solutions Q2 2023 (limited operations) Ares…

Explore

Blue Vault Logo
Don’t miss alts news
and educational events

Subscribe Now