Average U.S. hotel revenue per available room and daily rates in March 2023 again dominated pre-pandemic benchmarks, while occupancy remained below 2019 levels but increased month over month, according to hospitality analytics firm STR.
For the fifth consecutive month, STR reported “continued improvement in business travel and groups” among its top 25 markets in March, reporting higher occupancy and ADR than other markets.
ADR in March was $158.17, up 19.1 percent over March 2019 and up from $152.01 in February 2023. March U.S. hotel RevPAR increased 14.4 percent over 2019 levels to $103.35, compared with $91.22 in February.
March U.S. hotel occupancy was 65.3 percent, up from 60 percent in February, but still down 4 percent from 2019 levels.
Among STR’s top 25 markets, Tampa had the highest occupancy level in March at 84 percent, up slightly from the month prior at 82.7 percent but still down 3.8 percent from 2019 levels. U.S. cities on STR’s list with the lowest occupancy levels in March included Minneapolis at 53.3 percent and Philadelphia and Detroit, each at 58.6 percent.
San Francisco again saw the steepest decline among STR’s top 25 cities, with occupancy down 17.1 percent from March 2019.
[email protected] (Angelique Platas)
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