Source: CoStar Group
by Isaac Collazo
April 2, 2021
U.S. hotel demand dipped slightly week to week in the latest data from CoStar Group’s hospitality analytics firm STR, but the hotel industry continued to perform at pandemic-era-high levels.
For the second straight week, according to data reported in standard STR methodology, the U.S. hotel industry sold more than 21 million rooms — a level not reached since before COVID-19 was declared a pandemic in March 2020. However, U.S. hotel demand for the week ending March 27 was down 350,000 rooms from the previous week — equivalent to each U.S. hotel on average selling 10 fewer rooms.
According to STR’s “Market Recovery Monitor,” which benchmarks the latest weekly performance against the comparable week in 2019, demand for the week of March 27 was 83% of the level reached during the comparable week in 2019.