All-time record hotel rates across the USA were booked in April 2022 taking the average daily rate (ADR) to $149.90 per room night, according to industry data reports from STR. This is a 14% increase in room rate compared to pre-pandemic April 2019.
Some other data points in recent STR hotel industry recovery news.
- Occupancy at US hotels in April 2022 was 65.5% and only 3.3% lower than April 2019. This is the highest occupancy rate since July 2021. Occupancy was 11% below April 2019 levels.
- Miami leads the recovery in the USA with hotel ADR at $282.26, a 62% increase over 2019 rates. Miami also leads in hotel occupancy at 80.9%, only slightly below 2019 levels.
- Ireland leads rate recovery in Europe with hotel ADR up 21% over May 2019.
- Portugal hotel ADR is up 18% over May 2019.
- Spain hotel ADR up 16% over May 2019.
- Germany at 6% ADR decrease and Austria 9% decrease over May 2019 are countries with some of the slowest rate recovery in Europe.
- London hotel occupancy at 72.0% in April 2022 was the highest since February 2020 (when I stayed in a London hotel for a week). ADR was GBP 151.42 / $189.13 USD per night. (London hotel rates have looked really high to me in recent searches.)
- Europe lags a few months behind the US in hotel industry recovery from the pandemic downturn.
- UK, Ireland and Poland lead hotel occupancy increase among European nations with more than 80% of 2019 pre-pandemic occupancy levels. Poland’s hotel occupancy increases are in part due to Ukrainian refugees in the country.
- European leisure markets have led the way in hotel occupancy growth.
- In Europe, economy hotels segment led the way in occupancy growth, while luxury hotel segment has led room rate growth.
- STR data also indicated that cost – not Covid-19 – is now the biggest inhibitor to travel. However, Rossmann insisted that demand will overcome current economic headwinds and inflation concerns, which will likely be felt in 2023.
Seems like a good time to burn those hotel loyalty points this summer. I redeemed points and free nights with IHG, Hyatt and Marriott for summer stays in Europe. Free credit card nights with Hyatt and Marriott and 252,000 IHG points cut my hotel expenses to about $1,400 from $3,500 in room rates for 20 nights in Portugal and Greece.