STR: February U.S. Hotel Performance Bounces Back

February U.S. hotel performance rebounded from January’s slump, according to STR. The three key U.S. hotel industry performance metrics in February each improved significantly from January 2022 levels as concern about the omicron variant began to fade.

February U.S. hotel occupancy was 56.9 percent, compared with 47.8 percent in January. It is the highest monthly U.S. hotel occupancy since November 2021, according to STR, but still down 8.2 percent from February 2019.

The February 2022 average daily rate was $137.39, up from $123.51 in January and up 6.8 percent from February 2019

Revenue per available room for February was $78.24, significantly up from $58.98 in January. STR noted that, while this monthly ADR is the highest since August 2021, it is 5 percent lower than February 2019 when adjusted for inflation.

The top 25 markets generally reported higher occupancy and ADR than other markets, according to STR. Of the top 25, Miami recorded the highest February occupancy level at 81.6 percent, down 3 percent from February 2019. Meanwhile, Chicago and Minneapolis had the lowest occupancy levels, at 43.8 percent and 41.7 percent, respectively. San Francisco/San Mateo reported a decline of 40.5 percent in occupancy when compared with February 2019, the steepest decline among the top 25, STR noted, but better than January’s decline of 46.3 percent.

Terri Hardin  www.businesstravelnews.com