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STR: January ends on flat performance note for U.S. hotels

Occupancy remains around 40 percent

STR: January ends on flat performance note for U.S. hotels

JANUARY CLOSED WITH flat performance for U.S. hotels, according to STR.

Occupancy for the week ending Jan. 30 was 40.4 percent, up slightly from 40 percent the week before but down 29.6 percent from the comparable week in 2020. ADR was $89.62, down from $90.13 week-to-week and a 29.8 percent drop from last year. RevPAR averaged $36.23 compared to $36.07 the week before and down 50.6 percent year-over-year.


The top 25 markets together saw lower occupancy than the national average with 38.4 percent, but higher ADR with $95.50. At 58.2 percent, Tampa/St. Petersburg, Florida, reported the highest occupancy level among the top markets.

On the lowest end of performance was Oahu Island, Hawaii, with 22.8 percent and Minneapolis/St. Paul, Minnesota-Wisconsin, 27.7 percent.

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Peachtree Group funds Vastland’s VOCE hotel with $130M loan
Photo credit: Vastland Co.

Peachtree finances Vastland’s VOCE Hotel for $130M

Summary:

  • Peachtree Group financed Vastland’s VOCE Hotel in Nashville for$130M.
  • The 25-story development will feature 192 residences and 114 hotel suites.
  • Construction will start Dec. 8, with completion expected in fall 2027.

PEACHTREE GROUP PROVIDED a $130 million construction loan to Vastland Co. for its first VOCE Hotel & Residence in Nashville, Tennessee. Construction will begin on Dec. 8, with completion expected in fall 2027.

The 25-story mixed-use development will include 192 residences, 114 hotel suites, 60,000 square feet of office space, and more than 40,000 square feet of dining and wellness amenities, according to NashvillePost.

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