US Hotel Occupancy Peaks Ahead of Memorial Day
June 7, 2021 | S&P Global Market Intelligence
Occupancy at U.S. hotels in the week ended May 29 rose to its highest level at 61.8% since late February 2020, buoyed by the Memorial Day weekend, according to data from STR, which tracks the hospitality industry.
The figure, however, represents a decline of 4.2% when measured against the comparable week in 2019.
STR said it is measuring recovery against comparable time periods from 2019 “due to the steep, pandemic-driven performance declines of 2020.”
The average daily rate, or ADR, fell 1.6% to $122.06 versus the corresponding week in 2019, while revenue per available, or RevPAR, for the week was $75.42, down 5.7%. However, the weekly ADR and RevPAR reached pandemic-era highs as well.
Phoenix logged the highest occupancy increase among the top 25 markets, up 10.0% to 64.3%. San Francisco/San Mateo, Calif., reported the biggest drop in occupancy at 47.3%, down 41.1% compared to the same week in 2019.
Miami booked a 52.1% increase in ADR from the 2019 period at $250.19, followed by Phoenix, which logged a 27.4% rise to $125.71.
Miami increased RevPAR to $185.24, and Phoenix recorded $80.83, representing increases of 58.4% and 40.2% from the comparable 2019 period, respectively.
San Francisco/San Mateo, Calif., experienced the largest RevPAR declines at $67.07, down 60.4% from the same week in 2019, followed by Boston at $69.79, a decline of 55.4%.
