STR: U.S. hotel results for week ending 13 March
HENDERSONVILLE, Tennessee—U.S. weekly hotel occupancy reached its highest level in a year, according to STR‘s latest data through 13 March.
7-13 March 2021 (percentage change from comparable week in 2020):
- Occupancy: 52.1% (-1.4%)
- Average daily rate (ADR): US$102.62 (-14.5%)
- Revenue per available room (RevPAR): US$53.45 (-15.8%)
Year-over-year percentage changes are now more favorable as comparisons have shifted to pandemic-affected weeks from 2020. When indexed against 2019 levels, the U.S. has recaptured between 70-75% of occupancy in recent weeks.
Florida, lifted by Spring Break and Bike Week, was most represented among the leaders in week-to-week occupancy gains. Among all STR-defined markets, Daytona Beach; Gatlinburg, TN; Myrtle Beach; San Antonio; Greensboro, NC; and the Florida Panhandle showed double-digit growth from the previous week, which is reflective of further reopening around the country. All but seven states saw week-over-week gains, and six states saw occupancy increase by more than 5 percentage points. Additional insights on the week's performance can be found via STR's Market Recovery Monitor.
Among the Top 25 Markets, Tampa experienced the highest occupancy level (72.7%). The lowest Top 25 occupancy levels came in Boston (33.6%) and Minneapolis (33.9%).
Aggregate data for the Top 25 Markets showed slightly lower occupancy (49.8%) but higher ADR (US$109.06) than all other markets. The major markets continue to show the most sizeable gaps in current occupancy vs. 2019.
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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