STR: U.S. hotel results for week ending 10 July
HENDERSONVILLE, Tennessee—U.S. hotel occupancy improved week over week, while average daily rate (ADR) was the highest on record, according to STR‘s latest data through 10 July.
4-10 July 2021 (percentage change from comparable week in 2019*):
- Occupancy: 67.2% (-9.3%)
- Average daily rate (ADR): US$139.84 (+5.4%)
- Revenue per available room (RevPAR): US$93.99 (-4.4%)
Inflation aside, STR analysts note that hoteliers are taking advantage of pent-up leisure demand and higher spending travelers while trying to counter staffing shortages and rising operational costs in some regions. Additionally, with demand mostly transient, there is not the usual lowering effect of discounted group rates at the higher end of the market. Most of the higher ADR performances are outside of the major metro markets.
Among the Top 25 Markets, Norfolk/Virginia Beach saw the highest occupancy increase over 2019 (+3.0% to 80.5%).
Minneapolis experienced the steepest decline in occupancy when compared with 2019 (-34.1% to 52.6%).
Miami reported the largest ADR (+44.7% to US$225.14) and RevPAR (+30.7% to US$152.45) increases over 2019.
The largest RevPAR drops were in San Francisco/San Mateo (-55.2% to US$89.11) and Boston (-47.6% to US$94.03).
*Due to the steep, pandemic-driven performance declines of 2020, STR is measuring recovery against comparable time periods from 2019.
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