U.S. HOTELS REPORTED higher performance in October’22 compared to September, according to STR. However, performance during the month weakened when compared to 2019.
Occupancy of U.S. hotels were 67.2 percent for October’22, increased from 66.7 percent from the month before and decreased 2.4 percent from 2019. ADR was $155.63 for the month, up from $154.32 in September and up 16.8 percent from three years ago. RevPAR was $104.59 for the month, improved from $103 the month before and up 14 percent over 2019.
STR’s top 25 markets showed higher occupancy and ADR than all other markets in October mainly due to continued improvement in business travel and groups.
New York City experienced the highest occupancy level at 84.3 percent during the month, but still down 6.8 percent from the market’s 2019 benchmark.
In October, Minneapolis reported the lowest occupancy with 60.3 percent, followed by Houston with 62.2 percent and St. Louis with 62.2 percent. San Francisco reported the steepest decline in occupancy over 2019, down 19 percent.
According to STR, GOPPAR for U.S. hotels improved in September compared to the month before and it exceeded the pre-pandemic levels. Performance was down on a weekly basis for the third week of November, according to STR’s most recent report.