Skip to content

Search

Latest Stories

STR: U.S. hotel performance shows mixed results in last week of April

New York City, Las Vegas and San Francisco posted occupancy above 80 per cent

STR: U.S. hotel performance shows mixed results in last week of April

U.S. HOTEL PERFORMANCE showed mixed results from the previous week, according to STR‘s latest data through the end of April. However, it remained up year over year.

According to STR, occupancy stood at 66.6 percent for the week ending April 29, down from 67.2 percent the week before and increased 0.1 percent over the comparable week in 2022. ADR came in at $156.14, up from $155.76 the week before, and rose 5.5 percent from 2022. RevPAR was $104.01 in the last week, down from $104.64 the week before and increased 5.6 percent against the same period in 2022.


Among the Top 25 Markets, Boston registered the highest year-over-year increase in occupancy in the fourth week of the month, up 15.3 percent to 75.6 per cent.

Meanwhile, New York City (87.8 percent), Las Vegas (81.5 percent), and San Francisco (81.1 percent) were the only three markets to post occupancy above 80 percent.

Helped by the RSA Conference, San Francisco also reported the largest increases in ADR, up 38.9 percent to $303.25, while RevPAR increased 47.0 percent to $245.99.

The steepest RevPAR declines were seen in Miami, down 16.3 percent to $165.08, and Las Vegas, declined 12.7 percent to $130.28.

More for you

Hyatt CEO Mark Hoplamazian receives Cornell Icon Award and renews RiseHY youth hiring initiative in the hospitality sector

Hyatt’s Hoplamazian is Cornell Hospitality Icon

Who is the CEO of Hyatt and why was he honored?

Mark Hoplamazian, president and CEO of Hyatt Hotels Corp., received the Cornell Hospitality Icon of the Industry Award on June 3 in New York, recognizing his 18 years of leadership. The company also renewed its RiseHY commitment to hire 5,000 additional opportunity youth across the company and its hotels by the end of 2028.

The program provides employment access for individuals disconnected from the economy and supports their workforce participation through ongoing investment, Hyatt said in a statement.

Keep ReadingShow less
Red Roof and Bridge partner to streamline hotel financing for U.S. owners and developers

Red Roof, Bridge to provide capital to owners

RED ROOF IS working with digital financing platform Bridge, led by Rohit Mathur as CEO, to improve access to capital for hotel owners and developers. The partnership allows Red Roof owners and operators to submit loan requests in about 10 minutes and access Bridge’s network of more than 150 lenders.

The platform provides loan terms by packaging each opportunity with data and side-by-side comparisons to support decision-making, the companies said in a joint statement.

Keep ReadingShow less
Hyatt Unscripted brand hotel showcasing adaptive reuse design

Hyatt adds ‘Unscripted’ to Essentials portfolio

What is Unscripted by Hyatt and how does it work?

HYATT HOTELS CORP. recently added the Unscripted brand, part of Dream Hotel Group, to its Essentials portfolio. Rebranded as Unscripted by Hyatt, it targets growth through adaptive reuse and conversion-friendly projects, filling a gap in Hyatt’s offerings.

More than 40 hotels globally are in discussions to join the brand, which offers independent properties and small portfolios an operating model with minimal oversight and flexible brand standards, Hyatt said in a statement.

Keep ReadingShow less