U.S. Hotel Industry Reported Higher Performance in March


Skift Take

The DJIA ended Friday with a gain of 22 points while Nasdaq was up 13, the S&P 500 rose 4 points and the 10-year treasury yield was down .03 to 3.57%. Lodging stocks were lower with AINC and VCSA both hitting new lows. SOND was the big percentage gainer, up 8% but that was not even a gain of $0.04 in share price.

The U.S. hotel industry reported higher performance from the month prior, according to March 2023 data from STR. March 2023 (percentage change from March 2019): Occupancy: 65.3% (-4.0%); ADR: $158.17 (+19.1%); and RevPAR: $103.35 (+14.4%). Among the Top 25 Markets, Tampa experience the highest occupancy level (84.0%). Markets with the lowest occupancy for the month included Minneapolis (53.3%), Detroit (58.6%) and Philadelphia (58.6%). San Francisco reported the steepest decline in occupancy when compared with 2019 (-17.1%). 

LBA Hospitality completed an extensive revitalization project of the