by Bill McBride on 12/14/2015 02:41:00 PM
Monday, December 14, 2015
Here is an update on hotel occupancy from HotelNewsNow.com: STR: US results for week ending 5 December
The U.S. hotel industry recorded positive results in two of the three key performance measurements during the week of 29 November through 5 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 0.4% to 57.0%. However, average daily rate for the week was up 1.8% to US$116.51, and revenue per available room increased 1.5% to US$66.37.
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.
For 2015, the 4-week average of the occupancy rate is above 2000 (best year for hotels), and 2015 will be the best year ever for hotels.
Occupancy Rate Year-to-date:
1) 2015 66.9%
2) 2000 66.1%
3) 2014 64.8%
Data Source: Smith Travel Research, Courtesy of HotelNewsNow.com
Posted by Bill McBride on 12/14/2015 02:41:00 PM