US Hotel Occupancy for Week Ended March 20 Hits Peak Since March 2020
March 26, 2021 | S & P Global Market Intelligence
U.S. hotel occupancy for the week ended March 20 climbed nearly seven points from the previous week to the highest level since early March 2020, according to data from STR, which tracks the hospitality industry.
The absolute occupancy for the week stood at 58.9%, representing a 93.9% rise from the comparable, pandemic-affected week in 2020. It also represented almost 85% of occupancy regained from the 2019 benchmark, according to STR. Average daily rate hit 81% of the comparable 2019 level to reach $108.07, while revenue per available room finished the week at $63.62.
Tampa, Fla., and Miami logged the highest occupancy levels among the top 25 markets at 85.3% and 80.7%, respectively. Boston saw the lowest occupancy level at 37.0%, followed by Minneapolis, at 39.0%.
