Thursday, July 01, 2010

Hotel Occupancy Rate increases compared to same week in 2009

by Bill McBride on 7/01/2010 02:40:00 PM

From HotelNewsNow.com: STR reports US results for week ending 26 June 2010

In year-over-year measurements, the industry's occupancy last week increased 6.8 percent to 69.7 percent. Average daily rate rose 1.1 percent to US$98.79. Revenue per available room rose 7.9 percent to US$68.88.
The following graph shows the four week moving average for the occupancy rate by week for 2008, 2009 and 2010 (and a median for 2000 through 2007).

Hotel Occupancy Rate Click on graph for larger image in new window.

Notes: the scale doesn't start at zero to better show the change.

On a 4-week basis, occupancy is up 5.4% compared to last year (the worst year since the Great Depression) and still 7.7% below normal. About half way back ...

Last year leisure travel held up better than business travel and leisure travel (summer) is the key for the next couple of months.

Data Source: Smith Travel Research, Courtesy of HotelNewsNow.com