For February 2021 U.S. Hotel Industry Occupancy and RevPAR Were the Highest for Any Month Since October 2020

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A crowd in a stadium - Unsplash - Emma Dau

Lifted by Super Bowl LV, Tampa experienced the highest occupancy level (66.0



STR;

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 February 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.

March 2021 data will be the first in comparison with a pandemic-affected time last year. Thus, year-over-year comparisons will become more favorable and less actionable in measuring recovery.

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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