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.
