STR Weekly Insights: 15-21 October 2023 ...Middle East

U.S. hotel industry occupancy increased 0.5 percentage points (ppts) from the previous week to 69.0%, which was expected because this week was free of holiday and religious observance impacts, however, compared to last year it was down 0.6ppts. This is the third week in a row occupancy has declined year over year (YoY). On the upside, ADR increased 3.8%, its fifth consecutive week above 3%, resulting in a 2.9% RevPAR gain.

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