STR: U.S. hotel performance for May 2021
HENDERSONVILLE, Tennessee—The U.S. hotel industry recorded its highest monthly performance levels since before the beginning of the pandemic, according to May 2021 data from STR.
- Occupancy: 59.3%
- Average daily rate (ADR): US$117.69
- Revenue per available room (RevPAR): US$69.81
Each of the three key performance metrics were the highest for any month since February 2020. While year-over-year percentage changes show significant increases because of comparison with a pandemic-affected period in 2020, the country’s performance levels remained well below the pre-pandemic comparable of May 2019: occupancy (-13.5%), ADR (-10.9%) and RevPAR (-22.9%). To track recovery on a weekly basis, STR has launched a Market Recovery Monitor to index performance against the 2019 benchmark.
Among the Top 25 Markets, Miami experienced the highest occupancy level (74.2%), which was 2.6% below the market’s benchmark from 2019. The market also recorded the highest ADR (US$236.07) and RevPAR (US$175.23) levels. Miami’s ADR level was 33.6% higher than the pre-pandemic comparable.
Markets with the lowest occupancy for the month included Minneapolis (43.5%) and San Francisco/San Mateo (44.0%).
Overall, the Top 25 Markets showed lower occupancy but higher ADR than all other markets.
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Additional Performance Data
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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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