US Hotel Performance Improves in Final Week of 2022 – STR
January 6, 2023 | S&P Capital IQ Market Intelligence
U.S. hotel performance picked up during the week ended Dec. 31, 2022, owing to a positive holiday calendar shift, according to STR, which tracks the hospitality industry.
Hotel metrics came in higher week over week and compared to the same period in 2019. STR is measuring the hotel industry’s recovery against comparable periods from 2019 due to the impact of the COVID-19 pandemic.
Occupancy rose to 54.2%, from 43.9% in the previous week. It was up 10.4% from the 2019 level.
Average daily rate, or ADR, and revenue per available room increased compared to 2019. ADR climbed 21.7% to $167.21, and RevPAR jumped 34.3% to $90.63.
Norfolk/Virginia Beach, Va., logged the largest occupancy gain from the 2019 level. Occupancy in that market increased 22.9% to 48.5%. With a 53.5% jump over 2019, the highest ADR gain was recorded by Phoenix at $174.33.
None of the top 25 U.S. markets experienced a drop in ADR, according to the report.
The only RevPAR declines were posted in San Francisco, falling 9.3% to $92.78, and Los Angeles, dropping 4.2% to $127.74.
