HENDERSONVILLE, Tennessee—The U.S. hotel industry reported higher performance from the month prior, according to May 2023 data from STR.
May 2023 (percentage change from May 2022):
- Occupancy: 64.8% (-0.2%)
- Average daily rate (ADR): US$156.25 (+3.8%)
- Revenue per available room (RevPAR): US$101.31 (+3.7%)
Among the Top 25 Markets, New York City experienced the highest occupancy level (84.0%), which was up 3.6% year over year. Performance was helped by NYU’s commencement at Yankee Stadium and Taylor Swift’s Eras Tour.
Markets with the lowest occupancy for the month included Minneapolis (59.1%) and Houston (60.2%).
Reflecting continued improvement in business travel and groups, the Top 25 Markets showed higher occupancy and ADR than all other markets.
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