STR: US Hotel Performance Improves In February
Florida Markets Lift Total US Industry
The U.S. hotel industry showed higher performance levels from the prior month, according to February 2021 data from STR.
February 2021 (percentage change from January 2020):
- Occupancy: 45.3% (-26.6%)
- Average daily rate (ADR): US$98.31 (-24.8%)
- Revenue per available room (RevPAR): US$44.57 (-44.8%)
Occupancy and RevPAR were the highest for any month since October 2020, while ADR was the highest since September 2020.
Among the Top 25 Markets, Oahu Island reported the lowest February occupancy level (29.3%), which represented a 65.9% decrease in year-over-year comparisons.
Lifted by Super Bowl LV, Tampa experienced the highest occupancy level (66.0%), which was down 23.6% year over year. The next highest occupancy level was in Miami (65.5%), which recorded the highest ADR (US$215.86) and RevPAR (US$141.31) levels.
Miami was the only market to register ADR above US$200 and RevPAR above $100. Eight additional markets posted ADR over $100.
Overall, the Top 25 Markets showed lower occupancy but higher ADR than all other markets.
All of STR's COVID-19 analysis can be found here.
Additional Performance Data
STR's world-leading hotel performance sample comprises 68,000 properties and 9.1 million rooms around the globe. Members of the media should refer to the contacts listed below for additional data requests.
About CoStar Group, Inc.
CoStar Group (NASDAQ: CSGP) is a global leader in commercial real estate information, analytics, online marketplaces, and 3D digital twin technology. Founded in 1986, CoStar Group is dedicated to digitizing the world’s real estate, empowering all people to discover properties, insights, and connections that improve their businesses and lives.
CoStar Group’s major brands include CoStar, a leading global provider of commercial real estate data, analytics, and news; LoopNet, the most trafficked commercial real estate marketplace; Apartments.com, the leading platform for apartment rentals; Homes.com, the fastest-growing residential real estate marketplace; and Domain, one of Australia’s leading property marketplaces. CoStar Group’s industry-leading brands also include Matterport, a leading spatial data company whose platform turns buildings into data to make every space more valuable and accessible; STR, a global leader in hospitality data and benchmarking; Ten-X, an online platform for commercial real estate auctions and negotiated bids; and OnTheMarket, a leading residential property portal in the United Kingdom.
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