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U.S. Hotels Report 67.2% Occupancy for Week Ending April 22nd – Up 2.3% from 2022

Chicago skyline - Unsplash

Among the Top 25 Markets, Chicago saw the highest year-over-year increases in each of the key performance metrics

U.S. hotel performance increased from the previous week, according to STR‘s latest data through 22 April.

16-22 April 2023 (percentage change from comparable week in 2022):

Helped by group demand, which was the third highest of the pandemic-era, the occupancy and RevPAR levels were the second highest of the year, behind the week ending 18 March.

Among the Top 25 Markets, Chicago saw the highest year-over-year increases in each of the key performance metrics: occupancy (+23.9% to 72.2%), ADR (+29.6% to US$174.71) and RevPAR (+60.6% to US$126.13).

Of note, New York City (82.1%) and Las Vegas (80.8%) were the only two markets to report occupancy above 80%.  

The steepest RevPAR declines were seen in Miami (-20.7% to US$181.17) and Tampa (-8.9% to US$139.51).

STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.

Posted by on April 27, 2023.

Categories: Trends

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