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U.S. hotel results for week ending 2 July

U.S. hotel resultsU.S. hotel performance dipped from the previous week, while indexed comparisons against 2019 improved on the favorable side of a holiday calendar shift, according to STR‘s latest data through 2 July.

26 June-2 July 2022 (percentage change from comparable week in 2019*):

  • Occupancy: 67.3% (+2.9%)
  • Average daily rate (ADR): US$153.32 (+19.7%)
  • Revenue per available room (RevPAR): US$103.24 (+23.1%)

Given historical trends, the week-over-week decline in demand was normal given the holiday. Since 2000, the Fourth of July or the observance of the holiday (federal holiday) has fallen on a Monday seven times, including last year and in 2016. In every case, 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. Occupancy and demand are likely to fall again for this current week before strengthening in the remaining weeks of July.

U.S. hotel results

Among the Top 25 Markets, New Orleans saw the largest occupancy increase over 2019 (+16.5% to 73.7%). Chicago was next on the list with a 15.1% gain to 73.5%.
Denver (85.7%), Oahu Island (83.4%) and San Diego (81.9%) led the major markets in absolute occupancy for the week.

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Miami reported the largest occupancy decrease from 2019 (-9.8% to 65.7%).

Chicago posted the largest ADR gain over 2019 (+49.0% to US$170.00).

Largely because of ADR increases, each of the Top 25 Markets saw RevPAR higher than the comparable week of 2019.

*Due to the pandemic impact, STR is measuring recovery against comparable time periods from 2019.

Tags: ADR, hotel occupancy, hotel performance, hotel results, New Orleans, United States


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