by Bill McBride on 1/31/2016 11:13:00 AM
Sunday, January 31, 2016
Here is an update on hotel occupancy from HotelNewsNow.com: STR: US results for week ending 23 January
The U.S. hotel industry reported mixed results in the three key performance measurements during the week of 17-23 January 2016, 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 1.9% to 56.2%. Average daily rate for the week rose 2.5% to US$116.51, and revenue per available room increased 0.5% to US$65.51.
The red line is for 2016, dashed orange is 2015, blue is the median, and black is for 2009 - the worst year since the Great Depression for hotels.
2015 was the best year on record for hotels.
So far 2016 is tracking close to 2015. A solid start to the year.
Data Source: Smith Travel Research, Courtesy of HotelNewsNow.com
Posted by Bill McBride on 1/31/2016 11:13:00 AM