by Bill McBride on 3/22/2013 09:28:00 AM
Friday, March 22, 2013
Another update on hotels from HotelNewsNow.com: STR: US results for week ending 16 March
In year-over-year comparisons, occupancy was up 1.4 percent to 66.6 percent, average daily rate rose 4.5 percent to US$112.05 and revenue per available room increased 5.9 percent to US$74.66.The 4-week average of the occupancy rate is close to normal levels.
Note: ADR: Average Daily Rate, RevPAR: Revenue per Available Room.
The following graph shows the seasonal pattern for the hotel occupancy rate using the four week average.
Click on graph for larger image.
The red line is for 2013, yellow is for 2012, blue is "normal" and black is for 2009 - the worst year since the Great Depression for hotels.
The occupancy rate will increase seasonal over the next few weeks and then move sideways until summer vacation travel starts. This occupancy rate has improved from the same period last year - and is close to pre-recession levels.
Data Source: Smith Travel Research, Courtesy of HotelNewsNow.com
Posted by Bill McBride on 3/22/2013 09:28:00 AM