by Bill McBride on 8/06/2012 12:44:00 PM
Monday, August 06, 2012
From HotelNewsNow.com: STR: US results for week ending 28 July
In year-over-year comparisons for the week, occupancy ended the week with a 3.3-percent increase to 75.1 percent, average daily rate increased 4.8 percent to US$108.95 and revenue per available room ended the week with an increase of 8.2 percent to US$81.87.The 4-week average is still above last year, and is close to pre-recession levels. The occupancy rate has been above 75% for the last two weeks - for the first time since 2007.
Note: ADR: Average Daily Rate, RevPAR: Revenue per Available Room.
The following graph shows the seasonal pattern for the hotel occupancy rate using a four week average.
Click on graph for larger image.
The red line is for 2012, yellow is for 2011, blue is "normal" and black is for 2009 - the worst year since the Great Depression for hotels.
This could be the peak weekly occupancy rate for 2012 (the 4-week average will move up some more). Overall occupancy is back to normal, and will probably move higher over the next couple of years since there is limited new supply being built.
Data Source: Smith Travel Research, Courtesy of HotelNewsNow.com
Posted by Bill McBride on 8/06/2012 12:44:00 PM