STR: U.S. Hotel Performance For March 2021
HENDERSONVILLE, Tennessee - The U.S. hotel industry showed its highest performance levels since the beginning of the pandemic, according to March 2021 data from STR.
- Occupancy: 54.6%
- Average daily rate (ADR): US$106.08
- Revenue per available room (RevPAR): US$57.87
Occupancy and RevPAR were the highest for any month since February 2020, while ADR was the highest since March 2020. While year-over-year percentage changes show significant increases because of comparison with a pandemic-affected period in 2020, the country's performance levels remained well below the pre-pandemic comparable of March 2019: occupancy (-20.0%), ADR (-19.7%) and RevPAR (-35.8%). To track recovery, STR has launched a Market Recovery Monitor to index performance against the 2019 benchmark.
Among the Top 25 Markets, Tampa experienced the highest occupancy level (77.1%), which was 12.2% below the market's benchmark from 2019. The next highest occupancy level was in Miami (72.7%), which recorded the highest ADR (US$248.26) and RevPAR (US$180.36) levels. Miami's ADR level was just 1.9% lower than the pre-pandemic comparable.
Markets with the lowest occupancy for the month included Boston (35.7%) and Minneapolis (36.1%).
Overall, the Top 25 Markets showed lower occupancy but higher ADR than all other markets.
Omni Nashville Hotel — Nashville, TN United States
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.
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