U.S. Weekly Hotel Occupancy Reached Its Highest Level in a Year for the Week Ending Match 13th

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Graph - U.S. hotel occupancy

U.S. Weekly Hotel Occupancy Reached Its Highest Level in a Year for the Week Ending Match 13th



STR;

U.S. weekly hotel occupancy reached its highest level in a year, according to STR‘s latest data through 13 March.

7-13 March 2021 (percentage change from comparable week in 2020):

  • Occupancy: 52.1% (-1.4%)
  • Average daily rate (ADR): US$102.62 (-14.5%)
  • Revenue per available room (RevPAR): US$53.45 (-15.8%)

Year-over-year percentage changes are now more favorable as comparisons have shifted to pandemic-affected weeks from 2020. When indexed against 2019 levels, the U.S. has recaptured between 70-75% of occupancy in recent weeks.

Florida, lifted by Spring Break and Bike Week, was most represented among the leaders in week-to-week occupancy gains. Among all STR-defined markets, Daytona Beach; Gatlinburg, TN; Myrtle Beach; San Antonio; Greensboro, NC; and the Florida Panhandle showed double-digit growth from the previous week, which is reflective of further reopening around the country. All but seven states saw week-over-week gains, and six states saw occupancy increase by more than 5 percentage points.

Among the Top 25 Markets, Tampa experienced the highest occupancy level (72.7%). The lowest Top 25 occupancy levels came in Boston (33.6%) and Minneapolis (33.9%).

Aggregate data for the Top 25 Markets showed slightly lower occupancy (49.8%) but higher ADR (US$109.06) than all other markets. The major markets continue to show the most sizeable gaps in current occupancy vs. 2019.


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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© 2021 Hotel News Resource



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