STR: U.S. weekly hotel performance update

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STR: U.S. weekly hotel performance update

Key highlights: Drive-to destinations continued to show strong weekend performance, with Myrtle Beach, S.C., recording an 83.4% occupancy level. Economy class hotels reached a 50.3% occupancy level for the week, while the Upper Upscale class showed the lowest occupancy level among the classes (22.1%).

  • Drive-to destinations continued to show strong weekend performance, with Myrtle Beach, S.C., recording an 83.4% occupancy level.
  • Economy class hotels reached a 50.3% occupancy level for the week, while the Upper Upscale class showed the lowest occupancy level among the classes (22.1%).
  • The ADR difference between Luxury and Economy class hotels was US$123.00 for the week.
  • A few key beach submarkets have been able to grow ADR over 100% during the last 60 days.

About STR

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.