Finance & DevelopmentSTR: U.S. Hotel Industry Reports Higher Performance in May 2023

STR: U.S. Hotel Industry Reports Higher Performance in May 2023

HENDERSONVILLE, Tennessee—The U.S. hotel industry reported higher performance from the month prior, according to May 2023 data from STR.

U.S. Hotel Performance

May 2023

Occupancy: 64.8 percent (down 0.2 percent)

ADR: $156.25 (up 3.8 percent)

RevPAR: $101.31 (up 3.7 percent)

 

Among the Top 25 Markets, New York City experienced the highest occupancy level (84.0 percent), which was up 3.6 percent year over year. Performance was helped by NYU’s commencement at Yankee Stadium and Taylor Swift’s Eras Tour.

Markets with the lowest occupancy for the month included Minneapolis (59.1 percent) and Houston (60.2 percent).

Reflecting continued improvement in business travel and groups, the Top 25 Markets showed higher occupancy and ADR than all other markets.

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