In a sign that bodes well for a meetings industry rebound, group demand in U.S. hotels rose to nearly 1.3 million for the week of Sept. 19-25, according to lodging-data provider STR. The increase occurred just one week after group demand exceeded 1 million for the first time since the earliest days of the pandemic.
Group average daily rate moved past $200 for the first time since February 2020, an especially strong sign for hotels. Overall ADR for the week was $133.69, a slight increase over the previous week and 2 percent less than the comparable week in 2019. (STR is comparing figures to 2019 rather than year-over-year due to the pandemic-driven performance of a year ago.)
Overall occupancy for the week was 63.2 percent, 11 percent less than the same week in 2019. And revenue per available room was $88.54, a 12.8 percent dip from 2019.
Only one of the top 25 markets enjoyed an occupancy gain compared to 2019: Norfolk/Virginia Beach was up by 0.1 percent, to 63.9 percent, and recorded the largest RevPAR increase as well, rising 17.8 percent to $74.71. The largest ADR jump was reported by Miami, where the average rate rose 19.5 percent to $172.29.