U.S. Hotel Performance YOY Comparisons Improved for Week Ending July 1st

U.S. hotel performance fell from the previous week, but year-over-year comparisons improved, according to STR‘s latest data through 1 July. 

25 June through 1 July 2023 (percentage change from comparable week in 2022):

• Occupancy: 69.9% (+4.1%)
• Average daily rate (ADR): US$156.27 (+1.5%)
• Revenue per available room (RevPAR): US$109.18 (+5.7%) 

Among the Top 25 Markets, St. Louis saw the highest year-over-year increases in occupancy (+22.2% to 71.6%) and RevPAR (+39.3% to US$96.46). 

Philadelphia posted the largest ADR lift (+16.4% to US$170.53). 

The steepest RevPAR declines were seen in New Orleans (-25.1% to US$119.12) and Miami (-10.2% to US$112.20).

STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.