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

Tampa reported the largest increases in each of the key performance metrics

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

U.S. HOTEL PERFORMANCE increased in the second week of October from the week before, according to STR. Performance metrics during the week were mixed when compared to 2019.

Occupancy was 70.3 percent for the week ending Oct. 15, up from 68.2 percent the week before and down 2.7 percent from 2019. ADR was $157.52 during the week, increased from $153.79 the week before and up 15.8 percent from three years ago. RevPAR reached $110.78 in the second week of Oct’22, up from $104.83 the week before and increased 12.8 percent from 2019.


Tampa reported improved performance in markets in Florida due to post-Hurricane Ian demand among STR’s top 25 markets. It reported the largest increases in each of the key performance metrics, occupancy, up 17.1 percent to 80.6 percent), ADR, increased 34.6 percent to $159.80 and RevPAR, improved 57.7 percent to $128.85), over 2019.

San Francisco was the only market to post an ADR decline during the week, dipped 11.9 percent to $237.17.

The steepest RevPAR declines were in San Francisco, decreased 28.3 percent to $170.49, followed by Minneapolis, dropped 7.9 percent to $80.19.

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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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