Hotel performance takes week-over-week dip

U.S. hotel performance through Sept. 11 fell slightly from the previous week, according to STR’s latest data.

Results for Sept. 5-11 (percentage change from comparable week in 2019):

  • Occupancy: 60 percent (-13.6 percent)
  • Average daily rate: $130.82 (-1.4 percent)
  • Revenue per available room: $78.46 (-14.8 percent)    

Despite the week-over-week dip, performance levels were solid on an absolute basis considering it was the week of Labor Day as well as Rosh Hashanah from Monday through Wednesday, according to STR. Neither of those holidays were a factor in the corresponding week two years ago, thus creating steeper declines in comparison with 2019.

Occupancy and ADR

 

Among the top 25 markets, Tampa, Fla., recorded the only occupancy increase over 2019 (+0.3 percent to 61.5 percent). San Francisco/San Mateo experienced the steepest decline in occupancy when compared with 2019 (-44.6 percent to 49.4 percent).

Miami reported the largest ADR increase over 2019 (+30.4 percent to $171.02).

The largest RevPAR deficits were in San Francisco/San Mateo (-64.6 percent to $80.64) and Washington, D.C. (-55.8 percent to $62.26).

Also of note, New York City hit 500,000 roomnights sold for the first time in the pandemic era, helped by Broadway shows reopening and the final weekend of the U.S. Open Tennis Championships, according to STR.