STR: Second-highest Thanksgiving week demand on record

November ended on a strong note with RevPAR up 2%, driven by the Thanksgiving shift which had a net positive impact in the last two weeks

The Thanksgiving holiday, which fell in the third week of November last year versus the fourth week this year, resulted in significant fluctuations in performance. However, the net result over the two weeks was positive with RevPAR up 8.8%.

Key takeaways

• Looking specifically at the Thanksgiving week compared to all others on record, demand was second only to 2021 and occupancy was higher than last year's holiday week (50% to 49.4%);
• Room demand, which was also the second highest on record for the Wednesday to Saturday period (2021), was up 2.8% year-on-year. Not surprisingly, nominal ADR and RevPAR were the highest ever for the holiday period;
• Upscale hotels had the highest occupancy during the Thanksgiving travel period (58.9%), followed by upper midscale (57.6%). RevPAR in these two chains grew by 4.3% and 5% respectively.

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