US Hotel Occupancy Up Sequentially, Down YOY in Week Ending June 10
June 15, 2023 | Muhammad Hammad Asif | S&P Global Market Intelligence
US hotel performance improved substantially on a sequential basis during the week ended June 10, but was mostly weaker year over year, according to STR, which tracks the hospitality industry.
Occupancy increased to 69.4% from 61.6% a week earlier. However, it was also down fractionally from the comparable week in 2022.
The average daily rate (ADR) rose week over week to $157.69 from $150.28 and rose 0.5% from the year-ago period. Revenue per available room (RevPAR) climbed to $109.38 from $92.55 in the previous week, but dropped 1.2% year over year.
Oahu Island booked the largest year-over-year gain in occupancy among the top 25 markets with an increase of 13.0% to 84.8%.
Washington, DC, was the only market with a double-digit increase in ADR, up 12.0% to $201.34. It also had the biggest growth in RevPAR, up 18.7% to $160.05.
San Francisco reported the largest year-over-year decline in RevPAR, falling 37.2% to $161.99.
