April 28, 2023
US Hotel Metrics Rise in Week Ended April 22
US hotel performance was up week over week during the week ended April 22, according to STR, which tracks the hospitality industry...

US Hotel Metrics Rise in Week Ended April 22

April 28, 2023 | Muhammad Hammad Asif | S&P Market Intelligence

US hotel performance was up week over week during the week ended April 22, according to STR, which tracks the hospitality industry.

Occupancy grew to 67.2% from 64.2% in the previous week and was up 2.3% from the comparable week in 2022.

Average daily rate (ADR) rose week over week to $155.76 from $155.33, and climbed year over year by 4.2%. Revenue per available room (RevPAR) increased week over week to $104.64 from $99.67 and jumped 6.6% year over year.

Chicago logged the highest year-over-year rise in all three metrics among the top 25 markets. Occupancy in the Second City was up 23.9% to 72.2%, ADR grew by 29.6% to $174.71 and RevPAR increased by 60.6% to $126.13.

New York City and Las Vegas were the only two markets with occupancy above 80%.

Miami reported the largest year-over-year drop in RevPAR, falling 20.7% to $181.17.

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