US Hotel Metrics Slump in Week Ended June 3
June 8, 2023 | Muhammad Hammad Asif | S&P Global Market Intelligence
US hotel performance dipped sequentially during the week ended June 3, as expected with the Memorial Day holiday, according to STR, which tracks the hospitality industry.
Occupancy dropped to 61.6% from 66.8% a week earlier and was down 2.3% from the comparable week in 2022.
The average daily rate (ADR) declined week over week to $150.28 from $156.63 but rose 1.3% from the year-ago period. Revenue per available room (RevPAR) dropped to $92.55, from $104.62 in the previous week, and was down 1% year over year.
Las Vegas booked the largest year-over-year gain in occupancy among the top 25 markets with a lift of 9.5% to 73.5%.
Washington, DC, was the only market with a double-digit increase in ADR, up 10.7% to $174.53. Boston had the biggest growth in RevPAR, up 18.6% to $176.93.
San Francisco reported the largest year-over-year decline in RevPAR, falling 15.6% to $108.49.
