STR: U.S. hotels report highs in the third week of June

THE REVPAR OF U.S. hotels reached an all-time weekly high on a nominal and a pandemic-era high on an inflation-adjusted basis in the third week of June, according to STR. Boosted by the highest weekly demand of 28 million room nights sold since August 2019, occupancy was the highest of the pandemic-era during the week.

Occupancy was 71.8 percent for the week ending June 18, up from 70.6 percent the week before and dropped 4.8 percent from 2019. ADR was $155.02 for the week, slightly down from $155.37 the week before and increased 14.9 percent from three years ago. RevPAR reached $111.29 during the week up from $109.76 the week before and up 9.4 percent from 2019.

San Diego saw the only occupancy increase, up 0.5 percent to 86 percent, over 2019 among STR's top 25 markets. According to STR, New York City (86.6 percent), San Diego and Seattle (85 percent) led the major markets in absolute occupancy for the week.

Miami posted the largest ADR gain, up 32.9 percent to $203.14, over 2019. Minneapolis reported the largest occupancy decrease during June's third week, down 18.9 percent to 70.6 percent, from 2019.

The steepest RevPAR deficits was in Minneapolis, dropped 23.1 percent to $94.15, followed by San Francisco, down 20.7 percent to $167.90, over 2019.