us hotels
PwC: US Hospitality Directions: May 2023
PwC Hospitality Directions | May 22, 2023
Increasing economic headwinds to impact hotel performance for balance of this year and into 2024 Despite worries of recession, bank failures, and a liquidity crisis affecting the macro economy, US hotels continue to outperform expectations. In Q1 2023, US hotels exceeded Q1 2019 (pre-pandemic) RevPAR levels by 13.0 percent, based on data from STR. Room rates continue to be the primary driver in this performance recovery. While occupancy in Q1 2023 was still down 2.1 points from the same period in 2019, ADR increased 17.0 percent. Leisure travel continues to be strong, even though growth levels are slowing, and individual business travel ...
STR: U.S. Hotel Performance for March 2023
STR | April 20, 2023
HENDERSONVILLE, Tennessee—The U.S. hotel industry reported higher performance from the month prior, according to March 2023 data from STR. March 2023 (percentage change from March 2019): Occupancy: 65.3% (-4.0%) Average daily rate (ADR): US$158.17 (+19.1%) Revenue per available room (RevPAR): US$103.35 (+14.4%) Among the Top 25 Markets, Tampa experienced the highest occupancy level (84.0%), which was down 3.8% from the market’s 2019 benchmark. Markets with the lowest occupancy for the month included Minneapolis (53.3%), Detroit (58.6%) and Philadelphia (58.6%). San Francisco reported the steepest decline ...
STR: U.S. Hotel Performance for February 2023
STR | March 21, 2023
HENDERSONVILLE, Tennessee—The U.S. hotel industry reported higher performance from the month prior, according to February 2023 data from STR. February 2023 (percentage change from February 2019): Occupancy: 60.0% (-2.8%) Average daily rate (ADR): US$152.01 (+17.7%) Revenue per available room (RevPAR): US$91.22 (+14.3%) Among the Top 25 Markets, Tampa experienced the highest occupancy level (82.7%), which was down 2.7% from the market’s 2019 benchmark. Markets with the lowest occupancy for the month included Chicago (50.1%) and St. Louis (52.7%). San Francisco reported the steepest decline in occupancy when com...
