US Hotel Metrics Improve in Week Ended March 18
March 24, 2023 | Muhammad Hammad Asif | S&P Global Market Intelligence
US hotel metrics were up during the week ended March 18, thanks in large part to spring break travelers, according to STR, which tracks the hospitality industry.
Occupancy increased to 67.6% from 64.7% during the previous week and was up 1.3% year over year.
The other two key measures also increased compared to the corresponding week in 2022. Average daily rate (ADR) was up 8.9% to $167.04, and revenue per available room (RevPAR) rose 10.4% to $112.89.
Boston logged the highest year-over-year gain in occupancy among the top 25 markets, rising 17.8% to 71.8%.
Among the top group, Las Vegas booked the largest year-over-year ADR increase, up 77.9% to $306.79. The market also had the biggest RevPAR growth, up 101.5% to $277.09.
Miami reported the largest year-over-year drop in RevPAR, falling 8.9% to $252.69.
Compared to the similar period in 2019, before the pandemic, overall U.S. hotel occupancy was down 2.5%, but ADR was up 23.9% and RevPAR rose 20.8%, according to STR.
