U.S. hotel performance - March 2023

U.S. hotel profitability is improved by about 15 percent over 2022 results for March. Increase in demand (2.8%) and ADR (7.8%) lead to a 10.4% RevPAR growth year-over-year (YoY).

March 2023 Bottom-Line Metrics (per available room, % change from March 2022):

• GOPPAR: US$95.12 (+14.5%)
• TRevPAR: US$238.22 (+17.5%)
• EBITDA PAR: US$71.07 (+14.4%)
• LPAR (Labor Costs): US$74.43 (+23.4%)

STR: U.S. hotel results for week ending 6 May

U.S. hotel performance showed mixed results from the previous week but grew year over year, according to STR‘s latest data through 6 May.

• Among the Top 25 Markets, Chicago saw the highest year-over-year increases in occupancy (+14.7% to 67.7%) and RevPAR (+36.2% to US$116.98).
• Of note, New York City (85.1%) and Oahu Island (80.2%) were the only two markets to report occupancy above 80%.
• Helped by Taylor Swift’s Eras Tour, Nashville reported the largest increase in ADR (+27.9% to US$227.79) and the second-highest jump in RevPAR (+33.2% to US$174.20).
• The only RevPAR declines were seen in Miami (-9.9% to US$197.12) and San Francisco (-2.4% to US$141.18).

30 April-6 May 2023 (percentage change from comparable weeks in 2022, 2019):

• Occupancy: 65.2% (2.0%, -4.2%)
• Average daily rate (ADR): US$157.62 (+6.4%, +18.3%)
• Revenue per available room (RevPAR): US$102.74 (+8.4%, +13.3%)