STR: U.S. hotel results for week ending 27 March
HENDERSONVILLE, Tennessee—U.S. weekly hotel occupancy fell one point from the previous week, according to STR‘s latest data through 27 March.
21-27 March 2021:
- Occupancy: 57.9%
- Average daily rate (ADR): US$108.31
- Revenue per available room (RevPAR): US$62.68
The 57.9% absolute occupancy was a 160.8% increase from the comparable, pandemic-affected week last year, but more importantly, represented more than 83% of occupancy regained from the 2019 benchmark. More than 21 million rooms were sold for the second week in a row, however, it was the first time in four weeks that the metric fell week over week, which is indicative of softening in the spring break demand that had boosted levels previously.
Among the Top 25 Markets, Tampa (81.8%) and Phoenix (77.1%) experienced the highest occupancy levels. The lowest Top 25 occupancy levels came in Minneapolis (38.4%) and Boston (38.6%).
Aggregate data for the Top 25 Markets showed slightly lower occupancy (55.9%) but higher ADR (US$115.92) than all other markets. The major markets continue to show the most sizeable gaps in current occupancy vs. comparable weeks from 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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