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STR: U.S. hotel performance up in week ending March 12

Miami closest among top 25 markets to reaching 2019 levels

STR:  U.S. hotel performance up in week ending March 12

U.S. HOTEL PERFORMANCE was up in the second week of March from the week before, according to STR. ADR was up during the week compared to two years ago.

Occupancy was 63.2 percent for the week ending March 12, up from 61.2 percent  the week before and down 9.8 percent for the same period in 2019. ADR was $144.68 for the week, increased from $137.96 the week before and up7.7 percent from two years ago.


RevPAR was $91.45 for the week, up from $84.39 the week before and down 2.8 percent from the same period two years ago.

None of STR's top 25 markets showed an occupancy increase during the period when compared to two years ago. Miami came closest to its 2019 comparable, down 4.7 percent to 84.1 percent.

Anaheim posted the highest ADR, up 34.4 percent to $217.87 and RevPAR, rose 25.9 percent to $168.60) over the same period two years ago.

San Francisco/San Mateo experienced the largest occupancy decrease, down 29.7 percent to 56.3 percent, from 2019.

The steepest RevPAR deficits were in San Francisco/San Mateo, which decreased 44.9 percent to $101.77, followed by Washington, D.C., down 37.5 percent to $83.01.

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Peachtree Group Surpasses $2 B in U.S. Hotel Developments

Peachtree hits $2B in nationwide hotel developments

Summary:

  • Peachtree’s hotel development portfolio exceeds $2 billion nationwide.
  • Its largest project this year, Embassy Suites Gulf Shores, has 257 suites.
  • It has 11 hotels open, four under construction, three planned in Opportunity Zones.

PEACHTREE GROUP’S HOTEL development portfolio exceeded $2 billion nationwide despite high interest rates, rising construction costs and tighter credit conditions. Its largest project this year, the eight-story Embassy Suites by Hilton Gulf Shores Beach Resort in Alabama, includes 257 suites overlooking the Gulf Coast.

In Dallas, construction teams topped out the dual-branded AC and Moxy by Marriott Uptown, Peachtree’s tallest hotel at 19 stories in the city’s Uptown submarket, Peachtree said in a statement. The project, set to open in summer 2026, will add 264 rooms.

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