by Calculated Risk on 3/24/2023 03:01:00 PM
Helped by spring break travel, U.S. hotel performance increased from the previous week, according to STR’s latest data through 18 March.
March 12-18, 2023 (percentage change from comparable weeks in 2022, 2019):
o Occupancy: 67.6% (+1.3%, -2.5%)
o Average daily rate (ADR): $167.04 (+8.9%, +23.9%)
o Revenue per available room (RevPAR): $112.89 (+10.4%, +20.8%)
emphasis added
The following graph shows the seasonal pattern for the hotel occupancy rate using the four-week average.
NOTE: Last year, the occupancy rate was close to normal after the first quarter (depressed due to a surge in COVID), so STR will only be comparing to 2022 after Q1.
Click on graph for larger image.
The red line is for 2023, black is 2020, blue is the median, and dashed light blue is for 2022. Dashed purple is 2019 (STR is comparing to a strong year for hotels).
The 4-week average of the occupancy rate is close to the median rate for the previous 20 years (Blue).
Note: Y-axis doesn’t start at zero to better show the seasonal change.
The 4-week average of the occupancy rate will move more sideways until the Summer.
