US Hotel Metrics Improve in Week Ended April 15
April 24, 2023 | Muhammad Hammad Asif | S&P Global Market Intelligence
US hotel performance was up week over week during the week ended April 15, according to STR, which tracks the hospitality industry.
Occupancy grew to 64.2% from 61.3% in the previous week and was up 3.7% from the comparable week in 2022.
Average daily rate (ADR) rose week over week to $155.33 from $153.30 and year over year by 4.7%. Revenue per available room (RevPAR) increased week over week to $99.67 from $94 and jumped 8.6% year over year.
Minneapolis logged the highest year-over-year rise in occupancy among the top 25 markets, up 17.4% to 54.5%.
Washington, DC, booked the biggest year-over-year ADR increase, up 22.5% to $200.99. It also saw the highest RevPAR growth at 38.1% to $146.73.
San Francisco reported the largest year-over-year drop in RevPAR, falling 22.3% to $114.41.
