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U.S. HOTELS REPORTED higher performance in October compared to September, according to STR. However, performance during the month weakened when compared to 2019. Occupancy of U.S. hotels were 67.2 percent for October, increased from 66.7 percent from the month before and decreased 2.4 percent from 2019. ADR was $155.63 for the month, up from $154.32 in September and up 16.8 percent from three years ago. RevPAR was $104.59 for the month, improved from $103 the month before and up 14 percent over 2019. STR's top 25 markets showed higher occupancy and ADR than all other markets in October mainly due to continued improvement in business travel and groups.

U.S. HOTEL PERFORMANCE was down in the fourth week of November compared to the week before due to the Thanksgiving holiday, according to STR. However, hotel performance was mixed when compared to same period in 2019. Occupancy was 50.4 percent for the week ending Nov. 26, down from 63 percent the week before and decreased 0.5 percent from 2019. ADR was $135.49 during the week, down from $144.50 the week before and up 20.4 percent from three years ago. RevPAR reached $68.27 during the week, down from $91.02 the week before and up 19.9 percent from 2019. Minneapolis reported the largest occupancy increase among STR's top 25 markets, up 7.6 percent to 42 percent, over 2019.

THERE WAS A slight slip in U.S. hotel performance in the third week of October compared to the week before, according to STR. However, numbers improved during the week when compared to 2019. Occupancy was 69.9 percent for the week ending Oct. 22, down from 70.3 percent the week before and down 0.5 percent from 2019. ADR was $157.43 during the week, slightly dropped from $157.52 the week before and up 16.7 percent from three years ago. RevPAR reached $110.11 in the third week of Oct. 22, just dipped from $110.78 the week before and up 16.1 percent from 2019. Among STR's top 25 markets, Tampa reported the largest increase in occupancy during the week, up 7.4 percent to 75.9 percent and RevPAR, increased 39.2 percent to $117.28, over 2019. It has been one of the markets in Florida that have seen a performance lift associated with post-Hurricane Ian demand.

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.

THERE WAS A slight dip in U.S. hotel performance in the fifth week of July compared to the week before, which was the traditional summer travel peak, according to STR. Performance metrics for hotels were lower during the week compared to the week before, but higher when compared to 2019. Occupancy was 71.9 percent for the week ending July 30, down from 72.8 percent the week before and dropped 3.8 percent from 2019. ADR was $158.32 for the week, a slight dip from $158.79 the week before and increased 18.3 percent from three years ago. RevPAR reached $113.90 during the week, down from $115.59 the week before and up 13.9 percent from 2019. Nashville reported the largest occupancy increase during the post summer travel peak week, up 4.2 percent to 77.8 percent, over 2019 among STR's top 25 markets. The highest occupancy were in San Diego (87.4 percent), Boston (85.5 percent), and Oahu Island (85.3 percent) during the week under review.

U.S. HOTEL PERFORMANCE dropped in the fourth week of October compared to the week before, according to STR. When compared to 2019, occupancy increased as a result of the Halloween calendar shift, as the holiday fell during the comparable week three years ago. STR reminded that in the first week of November performance metrics will show the negative side of that shift. Occupancy was 65.8 percent for the week ending Oct. 29, down from 69.9 percent the week before and up 5.2 percent from 2019. ADR was $152.94 during the week, dipped from $157.43 the week before and up 21.4 percent from three years ago. RevPAR reached $100.59 during the week, down from $110.11 the week before and up 27.8 percent from 2019. Among STR's top 25 markets, Tampa reported the largest increase in each of the key performance metrics: occupancy up 21.5 percent to 76.1 percent, ADR increased 42.1 percent to $158.38 and RevPAR improved 72.5 percent to $120.58, over 2019. Tampa has been one of the markets in Florida that have seen a performance lift associated with post-Hurricane Ian demand.

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.

ALL PERFORMANCE METRICS of U.S. hotels improved in the fourth week of July and RevPAR reached an all-time high on a nominal basis during the week, according to STR. Occupancy was the highest since early August 2019 in the week. Occupancy was 72.8 percent for the week ending July 23, up from 72 percent the week before and dropped 6 percent from 2019. ADR was $158.79 for the week, up from $157.23 the week before and increased 16.4 percent from three years ago. RevPAR reached $115.59 during the week, up from $113.28 the week before and increased 9.3 percent from 2019. Among STR's top 25 markets, Orlando reported the only occupancy increase, up 2.2 percent to 81.8 percent, over 2019. San Diego (87.1 percent) led the markets in absolute occupancy during the week, followed by Oahu Island (86.2 percent) and Seattle (85.7 percent). San Diego also posted the largest ADR gain, increased 40.5 percent to $286.50, over 2019.

U.S. HOTELS REPORTED record-high monthly room rates on a nominal basis in July, according to STR. RevPAR on a nominal basis hit an all-time high during the month and occupancy was the second highest since August 2019. However, performance dipped some in the third week of August on a weekly basis, but performance improved during the week over 2019. Occupancy was 69.6 percent in July, down from 70.1 percent in June and down 5.4 percent from three years ago. ADR was $159.08 during the month, up from 155.04 in June and up 17.5 percent over 2019. RevPAR reached $110.73 in July, up from $108.64 the month before and increased 11.2 percent three years ago. At the same time, occupancy dropped to 67.3 percent for the week ending August 20, down from 68.5 percent the week before and dropped 3.9 percent from 2019. ADR was $150.96 for the week, decreased from $152.34 the week before and increased 16.7 percent from three years ago. RevPAR reached $101.59 during the week, fell from $104.30 the week before and increased 12.2 percent from 2019.

THE RevPAR OF U.S. hotels in the third week of May was the highest it has been since mid-July 2019, according to STR. Also, all metrics in April as a month improved compared to March, and hotels reported all-time high room rates during the period. Occupancy was 68.6 percent for the week ending May 21, up from 66.5 percent the week before and down 3.5 percent from 2019. ADR was $151.75 for the week, increased from $148.31 the week before and up 13.4 percent from three years ago. RevPAR reached $104.06 percent during the week, up from $98.59 the week before and rose 9.5 percent from 2019. STR's top 25 markets saw their highest weekly occupancy, ADR and RevPAR levels of the pandemic-era during the week.

ALL FORMS OF travel are experiencing a post-pandemic resurgence, including cruises, according to a survey from risk and crisis response provider Global Rescue. Some have concerns about their destination, but most are ready to hit the seven seas. According to the Global Rescue Traveler Sentiment and Safety Survey, 30 percent of respondents were experiencing some hesitancy about where to go, or when to get back to travel after two years of pandemic-related travel restrictions. Meanwhile, 70 percent of respondents are not experiencing any re-entry to travel anxiety in general or on cruise ships, according to the survey. "Nineteen percent of survey takers say they feel safer or much safer about taking a cruise compared to last year," said Dan Richards, CEO of Global Rescue and a member of the U.S. Travel and Tourism Advisory Board at the U.S. Department of Commerce.

A STRONG PERFORMANCE by U.S. hotels during the first quarter of 2022, along with other factors, are leading CBRE Hotels Research to raise its forecast for the rest of the year. The research firm now expects a full recovery in ADR in 2022 and in demand and RevPAR in 2023. First quarter RevPAR reached $72.20, up 61 percent from year earlier, despite a surge from the COVID-19 omicron variant, according to CBRE. RevPAR growth was driven by a 39 percent increase in ADR and a 16 percent increase in occupancy. ADR was 5 percent ahead of 2019's levels, marking the third consecutive quarter in which levels exceed the same period in 2019. These rising rates demonstrate that travelers aren't price-sensitive in many peak-demand markets.

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U.S. HOTEL PERFORMANCE dropped in the first week of June compared to the week before due to the expected slowdown following the Memorial Day holiday, according to STR. However, ADR increased for the week compared to 2019. Occupancy was 63.2 percent for the week ending June 4, down from 66.5 percent the week before and dropped 12.1 percent from 2019. ADR was $147.35 for the week, down from $151.73 the week before and up 11.3 percent from three years ago. RevPAR reached $93.16 during the week, decreased from $100.97 the week before and dropped 2.2 percent from 2019. None of STR's top 25 markets showed an occupancy increase over 2019 during the post Memorial Day week. Orlando came closest to its pre-pandemic levels, down just 2.5 percent to 68.9 percent, and Miami posted the largest ADR gain, up 37.8 percent to $209.55.

CHOICE HOTELS INTERNATIONAL has entered into a definitive agreement to acquire the franchise business, operations and intellectual property of Radisson Hotel Group Americas for approximately $675 million. The addition of Radisson's nine brands to Choice will bring with it 624 hotels with more than 68,000 rooms. As part of the transaction, which covers properties in Canada, Latin America and the Caribbean as well as the U.S., Choice will independently own and control the brands in the Americas and will work with Radisson to drive the growth, continuity and success of the brands, according to a joint press release from the companies. It will be funded by cash on hand and revolver borrowings and includes 10 Radisson Blu hotels, 130 Radisson hotels, 9 Radisson Individuals, 1 Park Plaza hotel, 4 Radisson RED hotels, 453 Country Inn & Suites by Radisson and 17 Park Inn by Radisson hotels, as well as the recently launched Radisson Inn & Suites and Radisson Collection brands. Choice's board of directors unanimously approved the transaction and is expected to close in the second half of 2022, pending regulatory approvals and customary closing requirements. The transaction is not anticipated to change Choice's current capital allocation strategy related to dividend payment policy and planned share repurchases.

U.S. HOTEL PERFORMANCE improved in the second week of May compared to the week before, according to STR. Occupancy, ADR and RevPAR all rose from the previous week and the latter two rose from 2019 levels. Occupancy was 66.5 percent for the week ending May 14, up from 63.9 percent the week before and down 5.9 percent from 2019. ADR was $148.31 for the week, increased from $147.24 the week before and up 10.5 percent from three years ago. RevPAR reached $98.59 during the week, up from $94.10 the week before and rose 4.1 percent from 2019. Among STR's top 25 markets, Phoenix saw the highest occupancy increase, up 4.5 percent to 73.8 percent, over 2019. Miami posted the highest ADR, increased 62.8 percent to $282.26, when compared to 2019.

THE BAIRD/STR HOTEL Stock Index dropped in May, after rising continuously for five months. Investors grew concerned about macroeconomic slowing and inflationary pressures which led to the broader stock market volatility. Baird/STR dropped 5.8 percent during the month, according to STR. Baird/STR went up 0.7 percent during April. The index decreased 2.8 percent over the first five months of 2022. It increased 2.2 percent in March after rising 4.1 percent in February. Baird/STR index fell behind the S&P 500, which was flat from April, but surpassed the MSCI US REIT Index, which was down 6.3 percent. The hotel brand sub-index fell 6 percent from April, while the Hotel REIT sub-index dipped 4.9 percent during the month.

U.S. EXTENDED-STAY HOTELS continued their good performance in all measures of performance in April compared to 2019 and higher than in March, according to hotel investment advisors The Highland Group. Due to seasonal increases in leisure travel, the upscale extended-stay hotels benefited the most from the greatest lift in recovery indices except ADR. Meanwhile, mid-price extended-stay hotels achieved the strongest monthly gains in ADR and room revenues compared to April 2021, the U.S. Extended-Stay Hotels Bulletin: April 2022 report said. Economy extended-stay hotels continued the lead the recovery compared to 2019, but, demand declined 1.4 percent in April this year compared to April 2021, mainly due to strong increases in ADR over several months. "The 1.8 percent increase in extended-stay room supply in April is the first month supply growth reported below 2 percent since 2013 and the seventh consecutive month of 4 percent or lower supply growth. It is likely that the supply increases should be well below pre-pandemic levels during the near term," the report said.

THE PERFORMANCE OF U.S. hotels ended strong in the first quarter with March profit surging across most global regions, according to HotStats. The research firm said stronger revenues, better conversion rates and less worry by travelers about a COVID upsurge drove the first quarter surge in performance. During the quarter U.S. hotels saw an increase in its operating fortunes, according to a blog post on the HotStats website. GOPPAR in March 2022 was up $70 over January 2022 and at $90 was closing in on March 2019's level. It was the highest profit month in the U.S. since February 2020, the last normalized month of performance before COVID-19 reframed the world. ADR growth in the U.S. led the way in recovery with March ADR on a nominal basis was at its highest level since October 2018.

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.