Hospitality Data Minute: September 10-16

By David Berman | September 22, 2023

United States hotel performance increased significantly compared to last week and had mixed results year-to-year, 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 67.7%, up 7.4% compared to last week but down 2.2% compared to the same week in 2022. Average daily rate grew 2.3% year-over-year to $161.15, but Revenue Per Available Room stayed at the same level, increasing slightly by 0.1% to $109.07.  Compared to last week, ADR increased 6.96% and RevPAR increased 20.04%.

Among the Top 25 Markets, Oahu Island had the largest year-over-year occupancy increase, up 7.4% to 83.6%

STR credited the 2023 Dreamforce conference as the main contributor to San Francisco posting the highest ADR and RevPAR jumps, up 39.7% and 33.9%, respectively.

New Orleans had the steepest RevPAR decline, down 23.8% to $69.01.

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STR also released year-to-year comparisons for the entire month of August. Compared to August 2022, this August was slightly down in occupancy (-0.3% to 66.0%). However, ADR increased 1.8% to $153.60 and RevPAR increased 1.5% to $101.35.

Oahu Island experienced the highest occupancy level, according to STR, up 3.4% year-over-year to 84.4%. New Orleans (45.7%) and Houston (56.8%) had the lowest Top 25 occupancies for the month.