As the summer leisure travel surge subsided, the U.S. hotel industry reported performance declines from the month prior, according to August 2021 data from STR.
August 2021 (percentage change from August 2019):
- Occupancy: 63.2% (-11.3%)
- Average daily rate (ADR): US$137.57 (+3.7%)
- Revenue per available room (RevPAR): US$86.88 (-8.1%)
On a nominal basis, ADR was higher than the 2019 comparable.
Among the Top 25 Markets, Norfolk/Virginia Beach experienced the highest occupancy level (74.2%), which was still down 5.3% from the markets 2019 benchmark.
None of the Top 25 Markets saw an occupancy increase over 2019.
Markets with the lowest occupancy for the month included New Orleans (42.7%) and Orlando (52.2%).
San Francisco/San Mateo reported the steepest decline in occupancy when compared with 2019 (-40.3% to 53.3%).
Overall, the Top 25 Markets showed lower occupancy but higher ADR than all other markets.
STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.