US Hotel Occupancy Posts Uptick in Week Ended February 26 – STR
March 4, 2022 | James Sprow | Blue Vault
Occupancy at U.S. hotels increased to 62.2% during the week ended February 26 from 59.1% in the previous week, according to data from STR, which tracks the hospitality industry.
Despite the weekly improvement, occupancy showed a 4.7% decline from the same week in 2019.
STR is measuring recovery against comparable time periods from 2019 due to the pandemic impact.
Average daily rate rose 13.1% to $143.83 during the week and revenue per available room increased 7.7% to $89.45.
Orlando, Florida, clocked in the biggest jump in occupancy with a 6.7% increase to 85.9%, compared to the same period in 2019.
The San Francisco/San Mateo area logged the biggest dip in occupancy at 53.7%, reflecting a 31.9% decline from the 2019 comparable period.
Miami topped the list for average daily rate and revenue per available room gains, thanks to the South Beach Wine & Food Festival. ADR in this market rose 47% to $365.64 and RevPAR was up 55.1% to $325.36.
San Francisco/San Mateo recorded the largest fall in RevPAR at $87.68, down 52.6% from the same period in 2019.
Source: S&P Global Market Intelligence, 3-3-22, by Zeeshan Murtaza
