This week in Hospitality & Tourism #21 2023

STR: U.S. hotel results for week ending 20 May

U.S. hotel performance increased from the previous week and showed improved comparisons year over year, according to STR‘s latest data through 20 May.

• The U.S. occupancy level was the second highest for any week this year.
• Among the Top 25 Markets, Washington, D.C., saw the highest year-over-year increases in each of the three key performance metrics: occupancy (+9.3% to 83.2%), ADR (+16.2% to US$220.58) and RevPAR (+27.0% to US$183.60). The weekly occupancy level was the highest in the market since the start of the pandemic.
• Of note, New York City saw the highest occupancy level (89.5%), helped by NYU’s commencement at Yankee Stadium.
• The steepest RevPAR declines were seen in Miami (-17.6% to US$149.00) and San Francisco (-12.2% to US$161.59).

14-20 May 2023 (percentage change from comparable weeks in 2022, 2019):

• Occupancy: 67.5% (-1.5%, -4.9%)
• Average daily rate (ADR): US$158.53 (+3.6%, +17.1%)
• Revenue per available room (RevPAR): US$106.98 (+2.1%, +11.4%)