STR: October U.S. Hotel Metrics Up From September

The U.S. hotel industry resumed its recovery in October, with key performance metrics showing improvement from September’s numbers, STR reported.

October 2021 U.S. hotel occupancy was 62.9 percent compared with 61.2 percent for September. The October figure is 8.8 percent below October 2019 levels. October average daily rate was $134.78, up from $133.11 last month and up 1.2 percent from 2019 rates. Revenue per available room was $84.75, a 7.6 percent decline from 2019, but an improvement from September’s $82.04.

None of the top 25 markets reported higher occupancy in October 2021 than October 2019. The top 25 markets did report higher ADR than all other markets, according to STR.

Nashville had the highest occupancy level at 71.8 percent, still down 11.9 percent from the 2019 benchmark. Boston (70.6 percent) and Los Angeles (70.2 percent) were the only other markets with occupancy levels higher than 70 percent. Only Oahu Island reported occupancy below 50 percent, at 48.9 percent.

STR and Tourism Economics earlier this month boosted their forecast, moving up their projected full U.S. hotel industry recovery to late 2022 for demand and ADR, and from 2024 to 2023 for RevPAR, at least in nominal terms. With inflation taken into consideration, real ADR and RevPAR won’t fully recover until 2025.

RELATED: September U.S. Hotel Metrics Dip Again Despite Group Bump

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STR: September U.S. Hotel Metrics Dip Again Despite Group Bump

The U.S. hotel industry reported lower key performance metrics in September compared with August, despite a strong showing in group demand beginning mid-month, according to STR. This was the second month in a row U.S hotel performance slowed after regular month-over-month increases since at least January.

Compared with September 2019, September 2021 occupancy was 61.2 percent, down 8.2 percent. Average daily rate was up 1 percent to $133.11. Revenue per available room declined 7.3 percent to $82.04.

Group demand for the week ending Sept. 18 eclipsed 1 million booked room nights for the first time since early in the pandemic, according to STR, and rose to 1.3 million the following week. At the same time, group average daily rate moved past $200 for the first time since February 2020.

Still, those bumps in weekly demand weren’t enough to raise the monthly performance averages past August levels. Group demand increased occupancy, but also “created a lowering effect on average daily rates, as group rooms for upper-tier classes are typically priced lower than transient rooms,” according to STR.

In the top 25 markets, none saw occupancy increase above 2019 levels. Denver reported the highest occupancy at 71.4 percent and was the only market above the 70 percent occupancy mark. San Diego was the next-strongest market at 67.1 percent. Orlando reported the lowest occupancy for the month at 49.2 percent, followed by Minneapolis at 50.5 percent. 

RELATED: STR: U.S. Hotel Recovery Slows in August

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STR: March U.S. Hotel Occupancy Tops 50 Percent

U.S. hotel occupancy and revenue per available room in March were the highest reported for any month since February 2020, and the March 2021 average daily rate was the highest since March 2020, according to STR. 

Occupancy reached 54.6 percent for March, ADR was $106.08, and RevPAR was $57.87, according to STR. Instead of showing the year-over-year change, STR provided comparisons to 2019 data because of the Covid-19 pandemic’s effect on March 2020 data. Compared with March 2019, March 2021 occupancy was down 20 percent, ADR was off by 19.7 percent, and RevPAR declined 35.8 percent.

Among the top 25 markets, 13 reported occupancy above 50 percent last month, compared with just five for February. Tampa led at 77.1 percent, followed by Miami at 72.7 percent and Phoenix at 70.8 percent. Markets with occupancies below 40 percent were Boston at 35.7 percent, Minneapolis at 36.1 percent, Washington, D.C. at 38.7 percent and Chicago at 39.9 percent.

RELATED: STR: U.S. Hotels in February Show Monthly Improvement

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