The US hotel industry reported lower occupancy but continued strong increases in rate in comparison with 2019, according to October 2022 data from STR.

October 2022 results showed (percentage change from October 2019):
• Occupancy: 67.2% (down 2.4%)
• Average daily rate (ADR): $155.63 (up 16.8%)
• Revenue per available room (RevPAR): $104.59 (up 14%)

Among the Top 25 Markets, New York City experienced the highest occupancy level (84.3%), which was down 6.8% from the market’s 2019 benchmark.

Markets with the lowest occupancy for the month included Minneapolis (60.3%), Houston (62.2%), and St. Louis (62.2%). San Francisco reported the steepest decline in occupancy when compared with 2019 (down 19%).
Reflecting continued improvement in business travel and groups, the Top 25 Markets showed higher occupancy and ADR than all other markets.