Tampa Hotels Increased Occupancy by 3.2% in June Over Same Month in 2019
The U.S. hotel industry recorded its highest monthly occupancy and revenue per available room (RevPAR) since October 2019, according to June 2021 data from STR.
- Occupancy: 66.1%
- Average daily rate (ADR): $129.00
- Revenue per available room (RevPAR): $85.31
In addition to higher occupancy and RevPAR levels, ADR was the highest for any month since February 2020. While year-over-year percentage changes show significant increases because of comparison with a pandemic-affected period in 2020, the country’s performance levels remained below the pre-pandemic comparable of June 2019: occupancy (-9.8%), ADR (-4.0%) and RevPAR (-13.4%). To track recovery on a weekly basis, STR has launched a Market Recovery Monitor to index performance against the 2019 benchmark.
Among the Top 25 Markets, Tampa experienced the highest occupancy level (76.2%), which was a 3.2% increase over the market’s benchmark from 2019.
Markets with the lowest occupancy for the month included San Francisco/San Mateo (50.0%) and Washington, D.C. (50.8%).
Oahu Island recorded the highest ADR ($227.22) and RevPAR ($171.40).
Overall, the Top 25 Markets showed lower occupancy but higher ADR than all other markets.
Copyright 2021 CoStar Realty Information Inc. All rights reserved. From https://www.costar.com. By HNN Newswire.