STR: March U.S. hotel rates rise, but occupancy dips
For the fifth consecutive month, STR reported “continued improvement in business travel and groups” among its top 25 markets in March
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.
Key takeaways
- Occupancy: 65.3% (-4.0%)
- Average daily rate (ADR): US$158.17 (+19.1%)
- Revenue per available room (RevPAR): US$103.35 (+14.4%)
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