Skip to content

Search

Latest Stories

STR: U.S. hotel performance up in the second week of February

Dallas came closest to its 2019 comparable, Super Bowl boosts Phoenix

STR: U.S. hotel performance up in the second week of February

U.S. HOTEL PERFORMANCE was up in the second week of February from the week before, according to STR. ADR and RevPAR for hotels also improved during the week when compared to 2019.

Occupancy was 57.8 percent for the week ending Feb. 11, up from 55.3 percent the week before and decreased 8.7 percent from 2019. ADR was $150.97 during the week, increased from $145.35 the week before and up 13.4 percent from three years ago. RevPAR reached $87.21 in the second week, up from $80.45 the week before and up 3.6 percent from January 2019.


None of STR’s top 25 markets saw an occupancy increase over 2019 during the second week of February. Dallas came closest to its 2019 comparable, down just 0.7 percent to 66.1 percent.

Phoenix reported the highest ADR, up 129.5 percent to $387.06, due to Super Bowl LVII during the week, and RevPAR increased 114.3 percent to $300.09, over 2019.

The steepest RevPAR declines were in San Francisco, down 55.9 percent to $116.00 and Seattle, decreased 24.1 percent to $78.84, over 2019.

More for you

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.

Keep ReadingShow less