January 2023 Top-Line Metrics (percentage change from January 2019):
- Occupancy: 52.8% (-3.0%)
- Average daily rate (ADR): US$142.14 (+13.8%)
- Revenue per available room (RevPAR): US$75.01 (+10.4%)
- Indexes are becoming challenging to translate and are less telling. Expect a shift to year-over-year percent change by March/April.
- Group demand was slightly softer than normal in January because of weather, calendar shifts, holiday movements, and a slower New Year’s Eve.
- The Top 25 Markets reported group demand recovery on par with all other markets, pointing to meeting planner preference for major urban centers.
- The number of rooms in construction grew YoY, albeit modestly, while the total active pipeline continues to contract.