HENDERSONVILLE, Tennessee– The U.S. hotel market reported greater efficiency from the month prior, according to May 2023 information from STR.
U.S. Hotel Performance
Tenancy: 64.8 percent (down 0.2 percent)
ADR: $156.25 (up 3.8 percent)
RevPAR: $101.31 (up 3.7 percent)
Amongst the Top 25 Markets, New York City experienced the greatest tenancy level (84.0 percent), which was up 3.6 percent year over year. Efficiency was assisted by NYU's start at Yankee Stadium and Taylor Swift's Eras Tour.
Markets with the most affordable tenancy for the month consisted of Minneapolis (59.1 percent) and Houston (60.2 percent).
Showing ongoing enhancement in organization travel and groups, the Top 25 Markets revealed greater tenancy and ADR than all other markets.