by Bill McBride on 5/24/2015 10:01:00 PM
Sunday, May 24, 2015
Revenue per available room (RevPAR) is now at $85.50. In May 2009, RevPAR had fallen to $58.39. So, RevPAR is up 46.9% over the last 6 years - and the occupancy rate will probably be at a new record high this year. A great year for hotels!
From HotelNewsNow.com: STR: US hotel results for week ending 16 May
The U.S. hotel industry recorded positive results in the three key performance measurements during the week of 10-16 May 2015, according to data from STR, Inc.The following graph shows the seasonal pattern for the hotel occupancy rate using the four week average.
In year-over-year measurements, the industry’s occupancy increased 0.5 percent to 70.3 percent. Average daily rate increased 5.2 percent to finish the week at US$122.10. Revenue per available room for the week was up 5.7 percent to finish at US$85.80.
Click on graph for larger image.
The red line is for 2015, dashed orange is 2014, blue is the median, and black is for 2009 - the worst year since the Great Depression for hotels. Purple is for 2000.
The 4-week average of the occupancy rate is solidly above the median for 2000-2007, and solidly above last year.
Right now 2015 is even above 2000 (best year for hotels) - and 2015 will probably be the best year on record for hotels.
Data Source: Smith Travel Research, Courtesy of HotelNewsNow.com