This week in Hospitality & Tourism #20 2023

STR: U.S. hotel results for week ending 13 May

U.S. weekly hotel performance produced mixed year-over-year comparisons, according to STR‘s latest data through 13 May.

• Worsened comparisons than the week prior were expected and normal given seasonal slowing and the negative side of the Mother’s Day calendar shift.
• Among the Top 25 Markets, Philadelphia saw the only double-digit increase in occupancy (+13.3% to 73.2%) as well as the highest jumps in ADR (+14.5% to US$189.50) and RevPAR (+29.7% to US$138.80).
• Of note, New York City (83.7%) was the only major market to report occupancy above 80%. That level was up 3.9% year over year.
• The steepest occupancy decline was reported in San Francisco/San Mateo (-9.2% to 65.7%). Hotels in Miami reported the biggest declines in ADR (-14.2% to US$221.88) and RevPAR (-20.9% to US$153.71).

7-13 May 2023 (percentage change from comparable weeks in 2022, 2019):

• Occupancy: 65.1% (-2.0%, -7.8%)
• Average daily rate (ADR): US$154.90 (+3.4%, +14.0%)
• Revenue per available room (RevPAR): US$100.81 (+1.3%, +5.2%)