Strong hotel rate growth compensated for declining occupancy in November, leading to growing revenue per available room (RevPAR) in the month, according to STR. The month’s results, according to the research, included: occupancy was down 1.2% to 58.4%; average daily rate (ADR) increased 3.6% to $151.23; and RevPAR rose 2.4% to $88.36.

With an extra lift from results in Las Vegas, according to the research, national ADR growth surpassed the Consumer Price Index for the first month since last May.

As has been the case since April, occupancy continued to decline due to lower shoulder-day and weekend levels. Weekday occupancy was essentially flat year over year, supporting STR’s projections of strengthening business and group travel.

The top three chain scales (luxury through upscale) have seen demand growth in every month of 2023. As compared with 2019, luxury demand has been higher in every month this year, except August. For upscale, demand has exceeded 2019 in nearly every month since early 2022.

Room demand grew in the Top 25 Markets while falling in all others, as it has since April. Weekday occupancy was up 0.4 percentage points in the Top 25 Markets. The shoulder period was down 0.2 percentage points, while November weekends were flat. Image: The Dominick NYC