STR’s industry data shows growth for US hotels in May 2023 rising above the country’s April performance.
The average daily rate (ADR) was $156.25, an increase of 3.8%, while the revenue available per room (RevPAR) was $101.31, with a rise of 3.7%.
The only metric that saw a decrease was occupancy rates at 64.8% - a reduction of -0.2%.
Markets with the lowest occupancy rates for May 2023 included Minneapolis (59.1%), where IHG Hotels and Resorts recently opened the boutique Hotel Indigo.
Houston in Texas also saw a comparatively low occupancy rate of 60.2%. The city was recently chosen as a location for two new Hyatt Regency properties.
Among the nation’s top 25 markets, New York City experienced the highest occupancy level of 84%, up 3.6% year-on-year. Interestingly, this increase comes after the city postponed the enforcement of a municipal law that could limit Airbnb rentals.
GlobalData’s travel and tourism analysis finds leisure to be a key trend in the US destination tourism market, which is leading motivation for travel to the country. In addition, transportation is the highest inbound tourist expenditure.
In 2022, the US welcomed 48.66 million international arrivals. It saw 94.36 million international departures over the same period.
