This week in Hospitality & Tourism #48 2022

  • The SBA is distributing another $83 million in Restaurant Revitalization Fund money

    Just before the Thanksgiving holiday, the U.S. Small Business Administration announced that the government agency would be distributing $83 million in unobligated Restaurant Revitalization Fund money to 169 restaurant operators with pending RRF applications.

  • STR: U.S. hotel results for week ending 26 November

    Due to the Thanksgiving holiday, U.S. hotel performance came in lower than the previous week and showed mixed comparisons to 2019, according to STR‘s latest data through 26 November.

    • Among the Top 25 Markets, Minneapolis reported the largest occupancy increase over 2019 (+7.6% to 42.0%).
    • Phoenix posted the highest ADR (+42.7% to US$151.24) and RevPAR (+44.8% to US$85.05) increases over 2019.
    • San Francisco (-21.0% to US$73.73) registered the only RevPAR decrease from 2019.

    20-26 November 2022 (percentage change from comparable week in 2019):

    • Occupancy: 50.4% (-0.5%)
    • Average daily rate (ADR): US$135.49 (+20.4%)
    • Revenue per available room (RevPAR): US$68.27 (+19.9%)
    STR Occupancy Data