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Finance & DevelopmentSTR: U.S. Occupancy Reaches 20-Week High

STR: U.S. Occupancy Reaches 20-Week High

HENDERSONVILLE, Tennessee — U.S. weekly hotel occupancy reached a 20-week high, according to STR’s latest data for the week of February 28-March 6, 2021.

Year over year, occupancy for the week declined 20.5 percent to a level of 49 percent—up from 47.5 percent the previous week. Average daily rate (ADR) fell 21.9 percent year over year to $98.30 and revenue per available room (RevPAR) declined 37.9 percent to $48.13.

U.S. Hotel Industry Performance

Feb. 28-March 6, 2021 vs. March 1-7, 2020

 

Occupancy: 49.0% (-20.5%)
ADR: $98.30 (-21.9%)
RevPAR: $48.13 (-37.9%)

While demand has improved in many states, most markets remain deep in recessionary territory when indexed to 2019 levels, according to STR. Year-over-year comparisons with 2020 are beginning to turn favorable as the country hits the one-year anniversary of its earliest pandemic restrictions. The company noted that additional insights on the week’s performance can be found via STR’s Market Recovery Monitor.

Aggregate data for the Top 25 Markets showed slightly lower occupancy (46.7 percent) but higher ADR ($105.55) than all other markets for the week of February 28-March 6, 2021. Among the Top 25 Markets, Miami saw the highest occupancy level (66.6 percent). Top 25 Markets with the lowest occupancy levels for the week included Oahu Island (30.9 percent) and Boston (31.7 percent).

 


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