STR Weekly Insights: 29 January-4 February 2023

In the week ending 4 February 2023, occupancy fell one percentage point (ppt) week over week (WoW) to 55.4%. The drop was not unexpected given previous history, and more importantly, the decrease was less than what we anticipated based on long-term trends. Weekly demand remained robust and above 21 million for the fourth consecutive week. At this point in 2019, weekly demand had only been above that level for three straight weeks.

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