However Revenue per offered space( RevPAR) was up 14.4% from2019 at US$103)
The U.S. hotel market reported greater efficiency from the month prior, according to March 2023 information from STR.
March2023( portion modification from March 2019):
- Occupancy: 65.3%( -4.0%)
- Average day-to-day rate( ADR): US$15817( 191%)
- Revenue per readily available space( RevPAR): US$10335 ( 144%)
Among the Top 25 Markets, Tampa experienced the greatest tenancy level (840%), which was down 3.8% from the marketplace’s2019 criteria.
Markets with the most affordable tenancy for the month consisted of Minneapolis (533%), Detroit (586%) and Philadelphia (586%). San Francisco reported the steepest decrease in tenancy when compared to 2019 (-171%).
Reflecting ongoing enhancement in service travel and groups, the Top 25 Markets revealed greater tenancy and ADR than all other markets.
STR supplies premium information benchmarking, analytics and market insights for international hospitality sectors. Established in 1985, STR keeps an existence in 15 nations with a business North American head office in Hendersonville, Tennessee, a worldwide head office in London, and an Asia Pacific head office in Singapore. STR was obtained in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading service provider of industrial property details, analytics and online markets. For additional information, please go to str.com and costargroup.com
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