February U.S. hotel average daily rate and revenue per available room increased year over year while occupancy again declined, according to hotel analytics firm STR.
U.S. hotel occupancy in February was 58.9 percent, down 1.8 percent year over year, while average daily rate increased 3.9 percent to $158.23 and RevPAR increased 2 percent to $93.19.
U.S. occupancy has declined year over year for several consecutive months. STR in a separate note about early March performance noted demand loss was particularly concentrated in the economy tier.
Hawaii’s Oahu Island posted the highest February occupancy level among STR’s top 25 markets at 84 percent, up 6.6 percent year over year. Minneapolis posted the lowest February occupancy among STR’s top 25 markets at 46.7 percent, followed by Chicago at 49.4 percent.
Las Vegas, which hosted Super Bowl LVIII, in February logged the highest ADR ($301.35) and RevPAR ($247.44).
STR’s top 25 markets “showed higher occupancy and ADR than all other markets,” according to the company.
