STR: May U.S. hotel rates rise, occupancy slips again
RevPAR and ADR for U.S. hotels in May increased year over year, while occupancy slipped slightly
May 2023 U.S. hotel ADR was $156.25, up 3.8 percent year over year and up slightly from $155.77 in April. May U.S. hotel RevPAR increased 3.7 percent year over year to $101.31, which also beat $100.39 the month prior.
Key takeaways
- Among STR’s top 25 markets, New York again experienced the highest occupancy at 84 percent in May - up 3.6 percent year over year and up from 82.6 percent the month prior;
- On the flip side, Houston and Minneapolis the lowest occupancies among STR’s top 25 markets in May, with Minneapolis at 59.1 percent and Houston with 60.2 percent;
- According to STR, May statistics reflect continued improvement in business and group travel, as the top 25 markets showed higher occupancy and ADR than all other markets.
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