U.S. hotel occupancy continues to tick upward, with STR reporting that the nationwide occupancy reached its highest level since October 2019 for the week ending July 17, topping out at 71%.
Among the Top 25 U.S. markets, New Orleans saw the most dramatic occupancy gain over 2019, up 5.8% to 59.5%.
The Top 25 market that saw the biggest decline in occupancy from 2019 was San Francisco/San Mateo, where occupancy was down -36.6% to 56.3%.
The national average daily rate (ADR) for the week of July 11 to July 17 was up 1.8% on 2019, to $139.19, while RevPAR was down 7.1%, to $98.87.
Meanwhile, the climbing occupancy comes as the U.S. hotel industry is fresh off its best monthly occupancy and RevPAR performance since October 2019 in June.
For June, the sector saw occupancy hit 66.1% and nationwide RevPAR come in at $85.31. ADR for the month totaled $129.
Tampa enjoyed the strongest June occupancy of any top 25 U.S. market, with occupancy up 3.2% on 2019, to 76.2%, while leading markets with the lowest occupancy levels for the month were San Francisco/San Mateo and Washington, where June occupancy hovered in the 50% range.
Source: Read Full Article