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Friday, February 17, 2023

Hotels: Occupancy Rate Down 8.7% Compared to Same Week in 2019

by Calculated Risk on 2/17/2023 08:34:00 AM

U.S. hotel performance increased from the previous week, according to STR‘s latest data through Feb. 11.

Feb. 5-11, 2023 (percentage change from comparable week in 2019*):

Occupancy: 57.8% (-8.7%)
• Average daily rate (ADR): $150.97 (+13.4%)
• Revenue per available room (RevPAR): $87.21 (+3.6%)

*Due to the pandemic impact, STR is measuring recovery against comparable time periods from 2019. Year-over-year comparisons will once again become standard after the first quarter.
emphasis added
The following graph shows the seasonal pattern for the hotel occupancy rate using the four-week average.

Hotel Occupancy RateClick on graph for larger image.

The red line is for 2023, black is 2020, blue is the median, and dashed light blue is for 2022.  Dashed purple is 2019 (STR is comparing to a strong year for hotels).

The 4-week average of the occupancy rate is close to the median rate for the previous 20 years (Blue).

Note: Y-axis doesn't start at zero to better show the seasonal change.

The 4-week average of the occupancy rate will increase seasonally over the next two months.