by Bill McBride on 12/31/2015 05:31:00 PM
Thursday, December 31, 2015
Here is an update on hotel occupancy from HotelNewsNow.com: STR: US results for week ending 26 December
The U.S. hotel industry reported negative results in the three key performance measurements during the week of 20-26 December 2015, according to data from STR, Inc.The following graph shows the seasonal pattern for the hotel occupancy rate using the four week average. Hotels are currently in the weakest part of the year; December and January.
In year-over-year measurements, the industry’s occupancy decreased 4.0% to 42.8%. Average daily rate for the week was down 1.7% to US$108.34. Revenue per available room fell 5.6% to US$46.37.
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.
2015 is the best year on record for hotels.
Average Weekly Occupancy Rate by Year:
1) 2015 65.9%
2) 2000 64.8%
3) 2014 64.8%
And the worst:
Data Source: Smith Travel Research, Courtesy of HotelNewsNow.com
Posted by Bill McBride on 12/31/2015 05:31:00 PM