STR: U.S. hotel results for week ending 20 February
U.S. weekly hotel occupancy reached its highest level since late October, according to STR's latest data through 20 February.
14-20 February 2021 (percentage change from comparable week in 2020):
- Occupancy: 48.1% (-23.8%)
- Average daily rate (ADR): US$101.57 (-22.1%)
- Revenue per available room (RevPAR): US$48.82 (-40.6%)
Popular leisure markets in Florida, with leftover demand from the long holiday weekend, posted the week's highest levels. Among STR-defined markets, the Florida Keys reached 93.5% occupancy, followed by Fort Lauderdale (80.1%). Miami saw the highest occupancy (75.8%) among the Top 25 Markets.
Additionally, displaced Texans pushed week-over-week occupancy gains across STR-defined markets in the state. Texas' occupancy added almost a point to overall U.S. occupancy for the week. STR will release a full Texas analysis in the coming days.
Top 25 Markets with the lowest occupancy levels for the week included Minneapolis (32.0%) and Oahu Island (32.8%).
Aggregate data for the Top 25 Markets showed slightly lower occupancy (47.0%) but higher ADR (US$107.07) than all other markets.
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.