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).

 


Get Lodging Daily News delivered to your inbox.

SUBSCRIBE

RELATED ARTICLES

The Painted Lady Joins Lark’s Management Portfolio

BIRMINGHAM, Alabama—The Painted Lady, a new boutique hotel in Birmingham, Alabama, has become the latest property to join Lark’s portfolio of independent hotels under...

HHM Hotels Announces Restructuring of Its Leadership Team

PHILADELPHIA, Pennsylvania—HHM Hotels announced a restructuring of its leadership team, introducing several strategic promotions and appointments across operations and commercial divisions. These moves are...

6 Best Practices for Efficient and Secure WiFi Service

Fast, reliable, and secure WiFi connectivity is essential to guest satisfaction at hotels of all types and chain scales, and there are many aspects...

Peachtree Launches Debt-Free DST in Avondale, Arizona

ATLANTA, Georgia—Peachtree Group announced the launch of its latest hotel property structured as a Delaware Statutory Trust (DST). The 128-key SpringHill Suites Phoenix West...

Stonebridge Announces Addition of Marriott Saddle Brook to Its Managed Portfolio

DENVER, Colorado—Stonebridge announced the addition of the 244-room Marriott Saddle Brook in New Jersey to its full-service managed portfolio. The addition reflects Stonebridge's strategy...

Hunter Hotel Advisors Brokers Sale of Hampton Inn & Suites El Paso-Airport

ATLANTA, Georgia—Hunter Hotel Advisors (Hunter) announced the successful sale of the 139-key Hampton Inn & Suites El Paso-Airport. Nexgen Management purchased the property from...