The strength of weekday (Monday-Wednesday) occupancy continued for the week ending Aug. 26, increasing 0.9 points year over year compared with 2022, according to the latest data insights from STR. Weekday occupancy is often considered a reflection of the health of business travel.

In addition, the Top 25 Markets — in destinations where business travel is a major segment —continued to see stronger occupancy growth compared with the rest of the country, rising 0.8 points year over year to 68.5% for the week ending Aug. 26.

In all but two of the 34 weeks of 2023, according to STR, the Top 25 Markets have reported greater occupancy gains than the rest of the country. Revenue per available room (RevPAR) in the Top 25 Markets increased 2.9% in the week ending Aug. 26, led by a 1.7% average daily rate (ADR) increase. Occupancy outside the Top 25 was 63.1%, which was flat from last year, with ADR up 1.5%, resulting in a 1.5% RevPAR gain.

Overall, results from the week ending Aug. 26 were as follows:
Occupancy: 65% (up 0.4%)
ADR: $150.23 (up 1.7%)
RevPAR: $97.62 (up 2.1%)

Among the Top 25 Markets, Las Vegas saw the largest year-over-year occupancy increase (up 7.9% to 76.3%). Houston posted the highest increases in ADR (up 10.5% to $112.08) and RevPAR (up 17.8% to $64.45). Miami saw the steepest RevPAR decline (down 11% to $102.75).