Skip to content

Search

Latest Stories

STR: Weekly U.S. hotel performance falls in first week of March

Detroit saw the highest occupancy increase over 2019, up 5 percent to 63.2 percent

STR: Weekly U.S. hotel performance falls in first week of March

U.S. HOTEL OCCUPANCY was down in first week of March week-over-week, according to STR. All metrics were higher than comparable time periods in the last two years.

Occupancy stood at 62.8 percent for the week ending March 4, down from 64.2 percent the week before, 3 percent more than the comparable week in 2022 and 5.6 percent below the comparable week in 2019. ADR stood at $151.35 for, up from $156.51 the previous week and also up 8.9 percent and 14.1 percent over the same month in 2022 and 2019, respectively. RevPAR was reported at $95.06, down from $100.43 the previous week, and up 12.1 percent and 7.7 percent increase over the same month in 2022 and 2019.


Among the Top 25 Markets, Detroit saw the highest occupancy increase over 2019, up 5 percent to 63.2 percent, while Washington, D.C., was up the most from last year, an increase of 23.6 percent to 64.1 percent. D.C. also reported the most substantial year-over-year RevPAR growth, up 52.2 percent to $113.56.

Las Vegas reported the highest ADR increase at $196.65 when measuring against 2019, up 56.8 percent and an increase of 33.7 percent in 2022. Las Vegas also saw the largest jump in RevPAR over 2019, up 54.3 percent to $153.55.

The steepest RevPAR declines from 2019 were seen in San Francisco, which dropped 51.4 percent to $117.39 and New Orleans, down 9.4 percent to $122.95. Year-over-year, Miami, which was down 4.2 percent to $225.72, was the only Top 25 Market to report a RevPAR decrease.

More for you

Miami JV Development: Gencom Secures $300M
Photo credit: The Ritz-Carlton

Gencom secures $300M for Miami JV development

A GENCOM-LED JOINT venture recently secured a $300 million debt facility to refinance existing debt and fund renovations at The Ritz-Carlton Key Biscayne in Miami. Key Bay Club LLLP, an affiliate of Fortune International Group, contributed the Grand Bay Club to the JV as part of the financing deal.

The partnership will combine the hotel and beach club sites into a 22-acre masterplan with more than 1,200 linear feet of beach frontage, the companies said in a statement.

Keep ReadingShow less
CBRE: US Hotel RevPAR to Grow 1.3 Percent in 2025

CBRE: RevPAR to grow 1.3 percent in 2025

U.S. HOTEL REVPAR is expected to grow 1.3 percent in 2025, supported by urban markets from group and business travel and increased demand for drive-to and regional leisure destinations, according to CBRE. Occupancy is forecast to rise 14 basis points and ADR 1.2 percent year-over-year.

This represents slower growth than CBRE’s February forecast, which projected 2 percent RevPAR growth based on a 21-basis-point increase in occupancy and a 1.6 percent rise in ADR, the commercial real estate and investment firm said.

Keep ReadingShow less