STR Weekly Insights: 26 November – 2 December 2023 ...Middle East

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STR Weekly Insights: 26 November – 2 December 2023
source : hospitality net ( Middle East ) () 21
Moving past Thanksgiving, U.S. hotel occupancy reached 54.2%, an expected increase of 4.8 percentage points (ppts) compared to the prior week but down 0.9 ppts versus last year. Average daily rate (ADR) increased 0.8% year over year (YoY), which was insufficient to grow RevPAR (-0.8%). Miami had a significant impact on performance this week due to the calendar shift of Art Basel, which resulted in a 50.6% RevPAR decrease for the market.

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