June 23, 2021

STR: U.S. Occupancy Hits Pandemic-Era High for 3rd Straight Week

U.S. hotel occupancy reached its highest weekly level since early November 2019 during the week of June 6-12, according to STR‘s latest data. Occupancy reached 66 percent, down 10.3 percent from the comparable week in 2019. Average daily rate was $125.16, down 7 percent, while revenue per available room was $82.65, down 16.6 percent.

While weekday occupancy was still down double digits from the corresponding days in 2019, weekend occupancy was 0.2 percent (Friday) and 3.2 percent (Saturday) higher than the 2019 comparables. On a total-room-inventory basis, which includes those hotels temporarily closed due to the pandemic, total week occupancy was higher than 60 percent for the first time since the beginning of the pandemic. ADR and RevPAR were also the highest of the pandemic era on an absolute basis.

U.S. Hotel Occupancy

According to STR’s U.S. Market Recovery Monitor, room demand surpassed 25 million in the week, up 1.6 million week on week, and was 91 percent of the level recorded in the comparable week from 2019.

Top Markets

Among the top 25 markets, Tampa saw the largest occupancy increase over 2019 (up 7.3 percent to 77.8 percent). Miami was the only other market to achieve an occupancy gain over 2019 (up 2.1 percent to 75.7 percent).

San Francisco/San Mateo experienced the steepest decline in occupancy when compared with 2019 (down 45.2 percent to 48.9 percent).

Miami reported the largest increases over 2019 in both ADR (up 47.8 percent to $229.84) and RevPAR (up 50.9 percent to $173.96).

Nearly every market reported total-room-inventory occupancy above 50 percent during the week except San Francisco; New York City; Washington, D.C.; and Syracuse, N.Y. Among open and operating hotels in New York City, weekly occupancy rose to 62 percent as room demand increased to its highest level since the pandemic’s start. More than 70 percent of New York’s open hotels reported occupancy above 60 percent for the week. In contrast, only 48 percent of open hotels in D.C. saw occupancy above 60 percent.

Copyright 2021 Questex LLC. All rights reserved. From https://www.hotelmanagement.net. By Jena Tesse Fox.

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