Tennessee—As expected ahead of Memorial Day, U.S. hotel performance decreased from the previous week, according to STR‘s latest data through 27 May. Year-over-year comparisons were improved.
21-27 May 2023 (percentage change from comparable week in 2022):
- Occupancy: 66.8% (+0.6%)
- Average daily rate (ADR): US$156.63 (+2.2%)
- Revenue per available room (RevPAR): US$104.62 (+2.9%)
Among the Top 25 Markets, Washington, D.C., saw the highest year-over-year occupancy lift (+10.5% to 76.2%).
Of note, New York City registered the highest occupancy level (85.7%), helped by Taylor Swift’s Eras Tour.
Detroit reported the largest increases in ADR (+16.9% to US$137.08) and RevPAR (+29.0% to US$91.54) over 2022.
The steepest RevPAR declines were seen in Miami (-10.0% to US$143.51) and Dallas (-7.0% to US$83.35).