March 24, 2021

STR: US Occupancy Reaches Highest Level in a Year

Spring Break Lifts Florida Markets During Week of March 13

U.S. weekly hotel occupancy reached its highest level in a year, according to STR‘s latest data through March 13.

March 7-13, 2021 (percentage change from comparable week in 2020):

  • Occupancy: 52.1% (-1.4%)
  • Average daily rate (ADR): US$102.62 (-14.5%)
  • Revenue per available room (RevPAR): US$53.45 (-15.8%)

Year-over-year percentage changes are now more favorable as comparisons have shifted to pandemic-affected weeks from 2020. When indexed against 2019 levels, the U.S. has recaptured between 70-75% of occupancy in recent weeks.

Florida, lifted by Spring Break and Bike Week, was most represented among the leaders in week-to-week occupancy gains. Among all STR-defined markets, Daytona Beach; Gatlinburg, TN; Myrtle Beach; San Antonio; Greensboro, NC; and the Florida Panhandle showed double-digit growth from the previous week, which is reflective of further reopening around the country. All but seven states saw week-over-week gains, and six states saw occupancy increase by more than 5 percentage points. Additional insights on the week's performance can be found via STR's Market Recovery Monitor.

Among the Top 25 Markets, Tampa experienced the highest occupancy level (72.7%). The lowest Top 25 occupancy levels came in Boston (33.6%) and Minneapolis (33.9%).

Aggregate data for the Top 25 Markets showed slightly lower occupancy (49.8%) but higher ADR (US$109.06) than all other markets. The major markets continue to show the most sizeable gaps in current occupancy vs. 2019.

Copyright 2021 CoStar Realty Information Inc. All rights reserved. From By HNN Newswire.

To view all articles, check out the Internet Travel Monitor Archive