STR: U.S. hotel results for week ending 16 October
HENDERSONVILLE, Tennessee - U.S. hotel occupancy reached its highest level since mid-August, while room rates dipped from the previous week, according to STR‘s latest data through 16 October.
- Occupancy: 65.0% (-10.0%)
- Average daily rate (ADR): US$134.03 (-1.4%)
- Revenue per available room (RevPAR): US$87.15 (-11.3%)
Week-over-week demand growth came almost exclusively from the Sunday ahead of Columbus Day. Overall for the 3-day holiday weekend (8-10 October), occupancy reached 72% as compared with 75% in 2019.
While none of the Top 25 Markets recorded an occupancy increase over 2019, Tampa came closest to its 2019 comparable (-3.0% to 66.8%). Driven by ADR, the market reported the largest RevPAR gain when compared with 2019 (+8.9% to US$88.87).
San Francisco/San Mateo experienced the steepest occupancy decline from 2019 (-41.2% to 52.0%).
Miami reported the largest ADR increase when compared with 2019 (+13.8% to US$184.58).
The largest RevPAR deficits were in San Francisco/San Mateo (-62.1% to US$90.19) and New York City (-45.5% to US$163.58).
*Due to the steep, pandemic-driven performance declines of 2020, STR is measuring recovery against comparable time periods from 2019.
Additional Performance Data
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STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. 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.