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

Norfolk/Virginia Beach reported the largest occupancy increase

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

U.S. HOTEL PERFORMANCE increased in the second week of November'22 compared to the week before, according to STR. All performance metrics improved during the week compared to same period in 2019 as well.

Occupancy was 64.6 for the week ending 12 Nov'22, up from 62.4 the week before and increased 0.9 percent from 2019. ADR was $148.43 during the week, improved from $147.48 the week before and up 17.1 percent from three years ago. RevPAR reached $95.89 during the second week of November'22, increased from $91.99 the week before and up 18.2 percent from 2019.


Among STR’s top 25 markets, Norfolk/Virginia Beach reported the largest occupancy increase, up 14.3 percent to 63.6 percent, over November 2019. San Diego posted the largest ADR increase, increased 35.2 percent to $202.86, over 2019.

The steepest RevPAR declines were in San Francisco, down 26.7 percent to $154.46, followed by Minneapolis, decreased 16.3 percent to $68.41.

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U.S. Hotel Construction Drops to 40-Quarter Low: CoStar

CoStar: U.S. hotel construction hits 40-quarter low

Summary:

  • U.S. hotel rooms under construction fell year over year for the ninth month, CoStar reported.
  • About 137,956 rooms were under construction in September, down 12.3 percent from 2024.
  • In September, 12,746 midscale and 4,559 economy rooms were under construction.

U.S. HOTEL ROOMS under construction fell year over year for the ninth consecutive month in September, reaching the lowest level in 40 quarters, according to CoStar. Still, more rooms are under construction now than after the Great Recession.

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