The U.S. hotel industry reported higher performance from the month prior, according to February 2023 data from STR.

February 2023 (percentage change from February 2019):

• Occupancy: 60.0% (-2.8%)
• Average daily rate (ADR): US$152.01 (+17.7%)
• Revenue per available room (RevPAR): US$91.22 (+14.3%)

Among the Top 25 Markets, Tampa experienced the highest occupancy level (82.7%), which was down 2.7% from the market’s 2019 benchmark.

Markets with the lowest occupancy for the month included Chicago (50.1%) and St. Louis (52.7%). San Francisco reported the steepest decline in occupancy when compared with 2019 (-28.4%).

Reflecting continued improvement in business travel and groups, the Top 25 Markets showed higher occupancy and ADR than all other markets.