STR: U.S. hotel occupancy reaches highest level since mid-August

U.S. hotel occupancy reached its highest level since mid-August, while room rates dipped from the previous week, according to STR‘s latest data. 

For the week of Oct. 10–16, occupancy reached 65 percent, down 10 percent from the comparable week in 2019. Average daily rate reached $134.03, down 1.4 percent from 2019, while revenue per available room reached $87.15, down 11.3 percent.
    
Week-over-week demand growth came almost exclusively from the Sunday ahead of Columbus Day. Overall for the three-day holiday weekend (Oct. 8–10), occupancy reached 72 percent, compared with 75 percent in 2019.

Top Markets

While none of the Top 25 Markets recorded an occupancy increase over 2019, Tampa, Fla., came closest to its 2019 comparable (down 3 percent to 66.8 percent). Driven by ADR, the market reported the largest RevPAR gain when compared with 2019 (up 8.9 percent to $88.87). 

San Francisco/San Mateo experienced the steepest occupancy decline from 2019 (down 41.2 percent to 52 percent). 

Miami reported the largest ADR increase when compared with 2019 (up 13.8 percent to $184.58). 

The largest RevPAR deficits were in San Francisco/San Mateo (down 62.1 percent to $90.19) and New York City (down 45.5 percent to $163.58).