STR: January U.S. Occupancy Slips as Rates Rise

January U.S. hotel occupancy declined year over year while average
daily rate and revenue per available room increased, according to hotel
analytics firm STR.

U.S. occupancy in January was 51.9 percent, down
1.7 percent year over year and also down from the 52.6 percent posted
in December 2023. 

ADR increased 2.7 percent year over year to $146.33, a
figure down from the $151.13 reported for December 2023. RevPAR increased 0.9
percent year over year to $75.99.

Hawaii’s Oahu Island posted the highest January occupancy
level among STR’s top 25 markets at 79 percent, up 6.2 percent year over year.
Minneapolis posted the lowest January occupancy STR’s top 25 markets at 40.7
percent, followed by St. Louis at 43.7 percent.

STR’s top 25 markets ” showed
higher occupancy and ADR than all other markets,” according to the
company.

RELATED:STR
December 2023 results