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STR: U.S. hotel performance stable in the third week of June, YOY comparisons vary

Minneapolis led in all three key performance metrics with the highest YoY increases

STR: U.S. hotel performance stable in the third week of June, YOY comparisons vary

U.S. HOTEL PERFORMANCE remained largely stable from the previous week, with mixed year-over-year comparisons, according to STR.

In the week ending June 24, U.S. hotel occupancy rose slightly to 71.4 percent, surpassing the previous week's 70.8 percent, but down 1 percent compared to 2022. ADR was $159, down from the previous week's $159.82, but still reflecting a 0.9 percent increase compared to the same period last year. RevPAR came in at $113.58, up from the previous week's $113.17, indicating a 0.1 percent decline compared to 2022, according to STR.


Among the top 25 markets, Minneapolis saw the highest year-over-year increases in each of the three key performance metrics: occupancy, up 9.1 percent to 74.5 percent; ADR increased 20.2 percent to $158.08, and RevPAR rose 31.1 percent to $117.80. The growth in these metrics was driven by Taylor Swift's Eras Tour.

The steepest RevPAR declines were reported in New Orleans, down 14.6 percent to $87.85, and Miami, which declined 11.9 percent to $122.22.

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Americas Best Value Studios

Sonesta expands ABVI line to extended-stay

Summary:

  • Sonesta launched Americas Best Value Studios, an extended-stay version of ABVI.
  • The model targets owners seeking limited front desk and housekeeping.
  • The brand meets demand for longer-term, value-focused stays.

SONESTA INTERNATIONAL HOTELS Corp. launched Americas Best Value Studios by Sonesta, an extended-stay version of its franchised brand, Americas Best Value Inn. The model targets owners seeking limited front desk and housekeeping, optional fitness center and lobby market along with standard brand requirements.

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