U.S. weekly hotel occupancy reached its highest level since October 2019, while room rates hit an all-time high, according to STRs latest data through 24 July.
For the Week Ending July 24th U.S. Weekly Hotel Occupancy Reached Its Highest Level Since October 2019
U.S. weekly hotel occupancy reached its highest level since October 2019, while room rates hit an all-time high, according to STR‘s latest data through 24 July.
18-24 July 2021 (percentage change from comparable week in 2019*):
- Occupancy: 71.4% (-7.8%)
- Average daily rate (ADR): US$141.75 (+4.0%)
- Revenue per available room (RevPAR): US$101.24 (-4.2%)
Historically, the middle weeks of July are the country’s highest occupancy weeks each year, and 2021 has been no different even as demand slows week to week.
ADR, while an all-time high on a nominal basis, comes in at a real value of US$136 when adjusted for inflation. That would be shy of the record from 2019. Both occupancy and ADR played a role in RevPAR reaching it highest level since July 2019 on a nominal basis.
Among the Top 25 Markets, Tampa saw the only occupancy increase over 2019 (+2.9% to 78.5%).
San Francisco/San Mateo experienced the steepest decline in occupancy when compared with 2019 (-35.2% to 58.3%).
Miami reported the largest ADR (+52.0% to US$237.49) and RevPAR (+49.3% to US$183.66) increases over 2019.
The largest RevPAR drops were in San Francisco/San Mateo (-54.4% to US$97.93) and Washington, D.C. (-43.4% to US$69.86).
*Due to the steep, pandemic-driven performance declines of 2020, STR is measuring recovery against comparable time periods from 2019.
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.
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