Hospitality Data Minute: July 9-15
By David Berman | July 20, 2023
The week after the 4th of July holiday, which saw seasonal declines in most hospitality metrics, United States hotel performance recovered, according to STR, a data solutions and insights group.
STR reported the data from CoStar, a “leading provider of online real estate marketplaces, information and analytics in the property markets.”
STR listed U.S. hotel occupancy as 72.0%, up 10.2% compared to last week and 0.1% from the same week in 2022. Average daily rate grew 1.5% year-over-year to $159.98, and Revenue Per Available Room rose 1.6% to $115.18. Compared to last week, ADR and RevPAR increased 2.68% and 19.53%, respectively.
Among the Top 25 Markets, San Francisco/San Mateo saw the highest year-over-year occupancy increase (up 7.7% to 79.4%). Denver posted the largest ADR (up 20.1% to $199.95) and RevPAR (up 25.9% to $177.40) gains. STR noted these gains were helped by Taylor Swift’s Era Tour making a stop in the Mile High City. The steepest RevPAR declines were seen in Chicago (down 8.9% to $126.62) and Miami (down 8.3% to $123.26).
