We all know this having paid nose-bleed rates for anything in travel these days: U.S. hotel rates in April were the highest ever in recorded rate history, according to latest data from STR. That was on a nominal basis, but adjusted to inflation, was up 0.7 percent from 2019 comparables.
April 2022 (percentage change from April 2019):
- Occupancy: 65.5% (-3.3%)
- Average daily rate (ADR): US$149.90 (+14.0%)
- Revenue per available room (RevPAR): US$98.20 (+10.2%)
Among the Top 25 Markets, Miami experienced the highest occupancy level (80.9%), which was down 0.2% from the market’s 2019 benchmark.
From CoStar story: The biggest surprise…is how sustainable higher room rates have been, even amid macroeconomic concerns such as inflation. “Healthy demand drives rates and operators are actualizing room rates that are 14% higher than they were three years ago,” Freitag said…For April, U.S. hotel average daily rate was up 35% compared to April 2020, marking 12 consecutive months of double-digit, year-over-year improvement in the metric.
What Does the Future of Lodging Look Like?
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