Hospitality Data Minute: August 6-12
By David Berman | August 17, 2023
United States hotel performance declined last week but improved slightly 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 68.3%, down 0.6% compared to last week but identical to the same week in 2022. Average daily rate grew 2.0% year-over-year to $156.47, and Revenue Per Available Room also rose 2.0% to $106.89. Compared to last week, ADR decreased 1.03% and RevPAR decreased 1.91%.
Among the Top 25 Markets, Los Angeles saw the largest year-over-year growth for all three metrics:
- Occupancy up 13.5% to 82.6%
- ADR up 8.4% to $222.98
- RevPAR up 23.0% to $184.16
L.A.’s strong week was aided by Taylor Swift’s Eras Tour stopping at SoFi Stadium, STR said.
Like last week, the steepest RevPAR decline was seen in St. Louis (down 22.1% to $63.80).
