STR: Memorial Day pulls U.S. hotel performance down in week of May 27

New York City reported the highest occupancy level at 85.7 percent

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U.S. hotel performance
Occupancy was 66.8 percent for the week ending May 27, down from 67.5 percent the week before and increased 0.6 percent over the comparable week in 2022. ADR stood at $156.63 for the week, down from $158.53 the previous week, and up 2.2 percent from the last year. RevPAR reached $104.62 during the week, dipped from $106.98 the week before and increased 2.9 percent against the same period in 2022, STR said.

The Memorial Day calendar shift pulled U.S. hotel performance down in the last week of May, compared to the week before, as expected, according to STR. Meanwhile, the year-over-year comparisons have improved, STR said.

Occupancy was 66.8 percent for the week ending May 27, down from 67.5 percent the week before and increased 0.6 percent over the comparable week in 2022. ADR stood at $156.63 for the week, down from $158.53 the previous week, and up 2.2 percent from the last year. RevPAR reached $104.62 during the week, dipped from $106.98 the week before and increased 2.9 percent against the same period in 2022.

Among STR’s top 25 markets for the week, Washington, D.C., registered the highest year-over-year occupancy lift, up 10.5 percent to 76.2 percent, over 2022.

Of note, New York City reported the highest occupancy level at 85.7 percent, helped by Taylor Swift’s Eras Tour.

Detroit posted the highest ADR lift, jumped 16.9 percent to $137.08) and RevPAR, soared 29 percent to $91.54, against 2022.

The steepest RevPAR declines were seen in Miami, down 10 percent to $143.51) and Dallas, declined 7 to $83.35.