Skip to content

Search

Latest Stories

STR: U.S. hotel performance improves in first week of April

Washington, D.C., registered the highest year-over-year increase in occupancy

STR: U.S. hotel performance improves in first week of April

AS NORMAL SPRING break patterns continue, U.S. hotel performance increased in the first week of April compared to the previous week, according to STR. Metrics improved over the previous week as well as year-over-year in most cases.

Occupancy stood at 66.2 percent for the week ending April 1, up from 64.9 percent the week before, and rose 3.4 percent than the comparable week in 2022 and decreased 3.5 percent over the comparable week in 2019. ADR was $158.40, down from $158.61 the week before, increased 7.3 percent and 19.9 percent against 2022 and 2019, respectively. RevPAR was $104.78 from $102.98 in the last week and rose 10.9 percent and 15.7 percent over the same month in 2022 and 2019.


Among the top 25 markets, Washington, D.C., registered the highest year-over-year increase in occupancy, up 18.2 percent to 78.7 percent, while Dallas saw the highest occupancy lift over 2019, up 6.2 percent to 73 percent.

Houston showed the most substantial ADR, up 25.8 percent to $133.5, while Phoenix reported the highest ADR increase over 2019, up 49.4 percent to $232.54.

Las Vegas witnessed the highest RevPAR increase measuring against 2019, up 49.8 percent to $168.41, while Washington, D.C., posted the largest year-over-year increase in the metric, up 44.1 percent to $165.44.

The steepest RevPAR declines were seen in Minneapolis, down 37.4 percent to $66.73 and San Francisco, down 27.5 percent to $123.96, over 2019.  New Orleans also reported the largest year-over-year RevPAR decrease, decreased 26.4 percent to $125.83.

More for you

Peachtree Group's Equipment Finance Hits $30M Milestone
Photo credit: iStock

Peachtree’s equipment finance hits $30M

Summary:

  • Peachtree posted nearly $30 million in equipment finance transactions in its first quarter.
  • The division was created to fill a gap as banks reduce lending to middle-market borrowers.
  • Deals covered equipment for transportation, technology and material handling.

PEACHTREE GROUP’S EQUIPMENT finance division closed $29.8 million in capital lease and fair market value transactions across multiple industries in its first full quarter following the platform’s October launch. The deals included equipment for transportation, technology and material handling.

Peachtree Equipment Finance was created to address a gap in the equipment leasing market as banks reduce exposure to middle-market borrowers, Peachtree said in a statement. It focuses on capital leases and FMV transactions structured to businesses’ operational needs.

Keep ReadingShow less