Group items matching

in title, tags, annotations or url

A SLIGHT DROP was witnessed in U.S. hotel performance in the first week of April from the week before due to a continuing slump in Spring Break travel, according to STR. Little movement was seen in the top 25 markets as well. Occupancy was 64.1 percent for the week ending April 2, down from 65.5 percent the week before and down 6.4 percent for the same period in 2019. ADR was $145.74 for the week, dropped from $149.38 the week before and increased 11.7 percent from two years ago. RevPAR was $93.48 for the week, dipped from $97.92 the week before and up 4.5 percent from the same period in 2019.

Occupancy was 62 percent for the week ending April 16, down from 66.4 percent the week before and down 5.6 percent from 2019. ADR was $147.25 for the week, down from $150.45 the week before and up 14.4 percent from 2019. RevPAR reached $91.25 during the week, down from $99.93 the week before and up 8 percent from three years ago. Among STR's top 25 markets, Tampa saw the highest occupancy increase over 2019, up 3.2 percent to 76.6 percent. Phoenix posted the largest ADR increase in the week, up 33.8 percent to $189.16, over 2019.

NOVEMBER BROUGHT A little less for U.S. hotels to be thankful for compared to the prior month, according to STR, but also saw improvements over 2019's performance. Meanwhile, with Christmas a week away, performance surpassed the comparable time period for 2019. Occupancy for November reached 57.6 percent, down from 62.9 percent in October and down 6.2 percent compared to 2019. October's occupancy was 8.8 percent lower than the same month in 2019. ADR was $128.50 for the month, lower than October's $134.78 but 2.4 percent higher than November 2019. RevPAR also was down on a month-to-month basis, $74.03 versus $84.75, but it was only down 3.9 percent from the same month in 2019 versus a 7.6 percent difference between October 2021 and October 2019. New York City had the highest occupancy for the month among STR's top 25 markets with 71.2 percent. That was still down 17.9 percent from 2019. None of the top 25 markets saw higher occupancy than 2019.

Tara Investments of Charlotte, North Carolina, recently sold its Hyatt Place in downtown Greenville, South Carolina. The deal was brokered by Hunter Hotel Advisors and Apple Hospitality REIT bought the property. Mayank Patel, Hunter's senior vice president, oversaw the sale. Tara Investment is led by Anish Patel as managing partner. "We are very happy to announce the consummation of this transaction for our client," Mayank said. "The Hyatt Place is another example of Tara's premium grade developments, strategically located in Greenville's captivating downtown allowing the hotel to take advantage of strong business and leisure demand," Apple Hospitality bought the 130-room hotel in a continued effort to add newer vintage, high RevPAR assets to their select-service portfolio.

U.S. HOTEL PERFORMANCE was down in the first week of March from the week before, according to STR. However, ADR was up during the week compared to 2019. Occupancy was 61.2 percent for the week ending March 5, down from 62.2 percent the week before and down 8.2 percent for the same period in 2019. ADR was $137.96 for the week, decreased from $143.83 the week before and up 4.7 percent from two years ago. RevPAR was $84.39 for the week, down from $89.45 the week before and down 3.8 percent from the same period two years ago. None of STR's top 25 markets showed an occupancy increase during the period over 2019. Norfolk/Virginia Beach came closest to its 2019 comparable, down just 0.8 percent to 56.3 percent.

U.S. HOTEL PERFORMANCE dropped in the first week of November compared to the week before as expected due to the Halloween calendar shift, according to STR. Performance also weakened when compared to 2019. Occupancy was 62.4 for the week ending Nov. 5, down from 65.8 percent the week before and dropped 9.2 percent from 2019. ADR was $147.48 during the week, decreased from $152.94 the week before and up 11.4 percent from three years ago. RevPAR reached $91.99 during the first week of November, down from $100.59 the week before and a slight increase of 1.1 percent from 2019. None of STR's top 25 markets showed an occupancy increase over 2019 during the week after Halloween. Tampa came closest to its pre-pandemic comparable, with an increase of 1 percent to 72.4 percent.

U.S. HOTEL PERFORMANCE increased in the second week of November compared to the week before, according to STR. All performance metrics improved during the week compared to same period in 2019 as well. Occupancy was 64.6 for the week ending Nov. 12, up from 62.4 the week before and increased 0.9 percent from 2019. ADR was $148.43 during the week, improved from $147.48 the week before and up 17.1 percent from three years ago. RevPAR reached $95.89 during the second week of November, increased from $91.99 the week before and up 18.2 percent from 2019. Among STR's top 25 markets, Norfolk/Virginia Beach reported the largest occupancy increase, up 14.3 percent to 63.6 percent, over November 2019. San Diego posted the largest ADR increase, increased 35.2 percent to $202.86, over 2019.

U.S. HOTEL PERFORMANCE was down in the first week of 2023 compared to the week before mainly due to post-holiday seasonality and an unfavorable calendar shift, according to STR. Performance metrics for the week was down compared to same period in 2019 as it was a full business week. Occupancy was 47.2 percent for the week ending Jan. 7, down from 54.2 percent the week before and decreased 11.5 percent from 2019. ADR was $142.82 during the week, decreased from $167.21 the week before and up 11.2 percent from three years ago. RevPAR reached $67.40 in the first week of 2023, dipped from $90.63 the week before and down 1.5 percent from 2019. Orlando was the only STR top 25 market to report an occupancy increase, 2 percent to 71.3 percent, over 2019.

U.S. HOTELS REPORTED improved performance in the second week of January compared to the week before, according to STR. The weekly performance was mixed over the same period in 2019. Occupancy was 54.8 percent for the week ending Jan. 14, up from 47.2 percent the week before and decreased 5.5 percent from 2019. ADR was $144.81 during the week, increased from $142.82 the week before and up 15.7 percent from three years ago. RevPAR reached $79.38 in the second week of 2023, sharp increase from $67.40 the week before and up 9.3 percent from January 2019. None of STR's top 25 markets reported an occupancy increase during the week when compared to 2019. However, Dallas came closest to its 2019 comparable, down just 2.1 percent to 69 percent.

U.S. HOTEL PERFORMANCE dipped in the first week of July when compared to the week before mainly due to decline in demand on account of the Independence Day holiday, according to STR. STR predicted that occupancy and demand are likely to fall again for a week before strengthening in the remaining weeks of July. Occupancy in the week before the holiday fell by more than four percentage points with most of the losses beginning on Wednesday and continuing into the weekend. Since 2000, the fourth of July holiday has fallen on a Monday seven times, including in 2021 and in 2016. Occupancy was 67.3 percent for the week ending July 2, down from 72.3 percent the week before and dropped 2.9 percent from 2019. ADR was $153.32 for the week, declined from $157.05 the week before and increased 19.7 percent from three years ago. RevPAR reached $103.24 during the week down from $113.55 the week before and up 23.1 percent from 2019.

U.S. HOTEL PERFORMANCE dropped in the second week of July, as expected due to a holiday calendar shift, according to STR. The performance was skewed downward due to a comparison with a non-holiday week in 2019. STR said that performance is expected to improve for the remaining weeks of July after two consecutive weeks of lower demand around the Independence Day holiday. Occupancy was 63.3 percent for the week ending July 9, down from 67.3 percent the week before and dropped 14.5 percent from 2019. ADR was $153.71 for the week, slightly up from $153.32 the week before and increased 15.7 percent from three years ago. RevPAR reached $97.37 during the week down from $103.24 the week before and down 1.1 percent from 2019.

U.S. HOTEL PERFORMANCE bounced back in the third week of July after two consecutive weeks of lower demand due to the Independence Day holiday, according to STR. Occupancy was 72 percent for the week ending July 16, up from 63.3 percent the week before and dropped 7.4 percent from 2019. ADR was $157.23 for the week, up from $153.71 the week before and increased 14.9 percent from three years ago. RevPAR reached $113.28 during the week, up from $97.37 the week before and increased 6.4 percent from 2019. San Diego reported the only occupancy increase among STR's top 25 markets during the week, up 1 percent to 89.9 percent, over 2019. According to STR, San Diego (89.9 percent), Oahu Island (87.2 percent) and Seattle (85.8 percent) led the major markets in absolute occupancy. Miami posted the largest ADR gain, up 29.9 percent to $204.15, over three years ago. Only San Francisco reported an ADR decrease, down 4.1 percent to $229.24, compared to 2019.

U.S. hotel performance has declined in the fourth week of October compared to the previous week, according to CoStar. However, year-over-year comparisons revealed positive results. Occupancy came in at 66 percent for the week ending Oct. 28, slightly lower than the previous week's 69 percent, but with year-over-year growth of 0.7 percent. ADR dropped to $160.89, down from the previous week's $165.32, yet showing a notable 3.9 percent increase from the previous year. Similarly, RevPAR saw a decrease, reaching $106.16 compared to the previous week's $114.04, but reflecting a solid 4.6 percent rise from 2022. Among the top 25 markets, Minneapolis saw the largest year-over-year increase in occupancy, rising by 12.7 percent to reach 64.5 percent.

U.S. HOTELS RECORDED decreased performance results in November, compared to the preceding month, according to CoStar. However, year-over-year comparisons indicated positive improvements. Occupancy decreased to 58.4 percent in November, compared to 65.8 percent in October, marking a 1.2 percent decline from the previous year. ADR decreased from $161.56 to $151.23, showing a 3.6 percent increase from 2022. RevPAR stood at $88.36, down from $106.38 in the previous month, reflecting a 2.4 percent rise from the preceding year. Among the top 25 markets, New York City achieved the highest occupancy at 84 percent, marking a 6.3 percent year-over-year increase. Markets with the lowest occupancy for the month were Minneapolis at 49.1 percent and St. Louis at 53.2 percent. Meanwhile, the top 25 markets exhibited superior occupancy and ADR compared to all others.

U.S. HOTEL OCCUPANCY decreased in the first week of May compared to the week before, according to STR. However, ADR increased slightly. Occupancy was 63.9 percent for the week ending May 7, down from 66.6 percent the week before and dipped 6.1 percent from 2019. ADR was $147.24 for the week, up from $146.67 the week before and up 12 percent from three years ago. RevPAR reached$94.10 during the week, up from $97.72 and rose 5.1 percent from 2019. Among STR's top 25 markets, San Diego saw the highest occupancy increase, up 5.6 percent to 74.5 percent, over 2019.

SPRING BREAK TRAVEL helped U.S. hotel performance to rise in the third week of March from the week before, according to STR. Occupancy for the week was the highest since the week ending Aug. 7, 2021, and ADR was the second highest on record. Occupancy was 66.9 percent for the week ending March 19, up from 63.2 percent the week before and down 3.7 percent for the same period in 2019. ADR was $151.63 for the week, up from $144.68 the week before and increased 13.6 percent from two years ago. RevPAR was $101.44 for the week, rose from $91.45 the week before and up 9.5 percent from the same period two years ago.

U.S. HOTEL PERFORMANCE was up in the first week of December compared to the week before, according to STR. However, occupancy was down during the week when compared to 2019. Occupancy was 55.4 percent for the week ending Dec. 3, up from 50.4 percent the week before and decreased 7.7 percent from 2019. ADR was $141.71 during the week, up from $135.49 the week before and up 10.2 percent from three years ago. RevPAR reached $78.50 during the week, increased from $68.27 the week before and up 1.7 percent from 2019. Among STR's top 25 markets, New Orleans reported the only occupancy increase, up 1.1 percent to 67.2 percent, over 2019.

U.S. HOTEL PERFORMANCE decreased in the third week of December compared to the week before, according to STR. However, performance metrics improved when compared to 2019 in part because of a favorable calendar shift. According to STR, the corresponding week in 2019 ended on 21 December, which brought performance down lower for that period. Occupancy was 54.5 percent for the week ending Dec. 17, down from 59.6 percent the week before and an increase of 9.2 percent from 2019. ADR was $135.08 during the week, dropped from $144.79 the week before and up 23.7 percent from three years ago. RevPAR reached $73.65 during the week, down from $86.29 the week before and up 35.1 percent from 2019.

U.S. HOTEL PERFORMANCE improved in the final week of 2022 compared to the week before due to favorable side of a holiday calendar shift, according to STR. When compared to the same period in 2019 performance also increased in the last week of December. According to STR, the comparable week in 2019 covered Dec. 29 to Jan. 4. Occupancy was 54.2 percent for the week ending Dec. 31, up from 43.9 percent the week before and increased 10.4 percent from 2019. ADR was $167.21 during the week, a steep increase from $132.29 the week before and up 21.7 percent from three years ago. RevPAR reached $90.63 in the final week of December, rose from $58.04 the week before and up 34.3 percent from 2019.

AS NORMAL SPRING break patterns continue, U.S. hotel performance increased in the first week of April compared to the previous week, according to STR. Metrics improved over the previous week as well as year-over-year in most cases. Occupancy stood at 66.2 percent for the week ending April 1, up from 64.9 percent the week before, and rose 3.4 percent than the comparable week in 2022 and decreased 3.5 percent over the comparable week in 2019. ADR was $158.40, down from $158.61 the week before, increased 7.3 percent and 19.9 percent against 2022 and 2019, respectively. RevPAR was $104.78 from $102.98 in the last week and rose 10.9 percent and 15.7 percent over the same month in 2022 and 2019. Among the top 25 markets, Washington, D.C., registered the highest year-over-year increase in occupancy, up 18.2 percent to 78.7 percent, while Dallas saw the highest occupancy lift over 2019, up 6.2 percent to 73 percent. Houston showed the most substantial ADR, up 25.8 percent to $133.5, while Phoenix reported the highest ADR increase over 2019, up 49.4 percent to $232.54.