by Bill McBride on 5/07/2009 11:06:00 AM
Thursday, May 07, 2009
"OK, so now it’s official. The first quarter of 2009 experienced the worst year-over-year revenue per available room drop in the U.S. lodging industry’s organized history."Note: RevPAR is Revenue per available room - a key measure in the hotel industry.
Jeff Higley: Catching up on hotel topics
From HotelNewsNow.com: STR reports U.S. data for week ending 2 May
In year-over-year measurements, the industry’s occupancy fell 11.6 percent to end the week at 55.7 percent. Average daily rate dropped 8.6 percent to finish the week at US$99.42. Revenue per available room for the week decreased 19.1 percent to finish at US$55.33.Click on graph for larger image in new window.
This graph shows the YoY change in the occupancy rate (3 week trailing average).
The three week average is off 11.1% from the same period in 2008.
The average daily rate is down 8.6%, so RevPAR is off 19.1% from the same week last year.
Posted by Bill McBride on 5/07/2009 11:06:00 AM