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Hotels: Occupancy Rate Down 0.5% Compared to Same Week in 2019

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by Calculated Risk on 10/28/2022 05:28:00 PM

U.S. hotel performance decreased slightly from the previous week but showed improved comparisons with 2019, according to STR’s latest data through Oct. 22.

Oct. 16-22, 2022 (percentage change from comparable week in 2019*):

o Occupancy: 69.9% (-0.5%)
o Average daily rate (ADR): $157.43 (+16.7%)
o Revenue per available room (RevPAR): $110.11 (+16.1%)

Among the Top 25 Markets, Tampa reported the largest increases over 2019 in occupancy (+7.4% to 75.9%) and RevPAR (+39.2% to $117.28). Tampa has been one of the markets in Florida that have seen a performance lift associated with post-Hurricane Ian demand. …

*Due to the pandemic impact, STR is measuring recovery against comparable time periods from 2019.
emphasis added

The following graph shows the seasonal pattern for the hotel occupancy rate using the four-week average.

Click on graph for larger image.

The red line is for 2022, black is 2020, blue is the median, and dashed light blue is for 2021. Dashed purple is 2019 (STR is comparing to a strong year for hotels).

The 4-week average of the occupancy rate is above 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 decline into the Winter.

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