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Hotels: Occupancy Rate Down 1.5% Compared to Same Week in 2019


U.S. hotel performance increased from the previous week, according to STR‘s latest data through Feb. 25.

Feb. 19-25, 2023 (percentage change from comparable week in 2019*):

• Occupancy: 64.2% (-1.5%)
• Average daily rate (ADR): US$156.51 (+22.2%)
• Revenue per available room (RevPAR): US$100.43 (+20.3%)

*Due to the pandemic impact, STR is measuring recovery against comparable time periods from 2019. Year-over-year comparisons will once again become standard after Q1.
emphasis addedThe following graph shows the seasonal pattern for the hotel occupancy rate using the four-week average.

NOTE: Last year, the occupancy rate was close to normal after the first quarter (depressed due to a surge in COVID), so STR will be comparing to 2022 after Q1.

Click on graph for larger image.

The red line is for 2023, black is 2020, blue is the median, and dashed light blue is for 2022.  Dashed purple is 2019 (STR is comparing to a strong year for hotels).

The 4-week average of the occupancy rate is close to the median rate for the previous 20 years (Blue).

Note: Y-axis doesn’t start at zero to better show the seasonal change.
The 4-week average of the occupancy rate will increase seasonally for several more weeks.

Year-over-year Rent Growth Continues to Decelerate

Previous article Reports Weekly Active Inventory Up 67% YoY; New Listings Down 16% YoY

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