For April 2021 U.S. Hotel Industry Recorded Its Highest Performance Levels Since the Beginning of the Pandemic

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Tampa, FL, USA - Unsplash

Among the Top 25 Markets, Tampa experienced the highest occupancy level (77.0%), which was 0.5% below the markets benchmark from 2019.



STR;

The U.S. hotel industry recorded its highest monthly performance levels since the beginning of the pandemic, according to April 2021 data from STR.

April 2021:

  • Occupancy: 57.5%
  • Average daily rate (ADR): US$110.34
  • Revenue per available room (RevPAR): US$63.46

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 April 2019: occupancy (-15.2%), ADR (-16.0%) and RevPAR (-28.8%). To track recovery on a weekly basis, 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 (77.0%), which was 0.5% below the market’s benchmark from 2019. The next highest occupancy level was in Miami (72.0%), which recorded the highest ADR (US$233.80) and RevPAR (US$168.31) levels. Miami’s ADR level was 6.9% higher than the pre-pandemic comparable.

Markets with the lowest occupancy for the month included Boston (40.4%) and Minneapolis (42.5%).

Overall, the Top 25 Markets showed lower occupancy but higher ADR 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.

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© 2021 Hotel News Resource



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