Friday, March 30, 2018

Hotels: Occupancy Rate Up Year-over-Year

by Bill McBride on 3/30/2018 12:53:00 PM

From HotelNewsNow.com: STR: US hotel results for week ending 24 March

The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 18-24 March 2018, according to data from STR.

In comparison with the week of 19-25 March 2017, the industry recorded the following:

Occupancy: +1.0 at 69.4%
• Average daily rate (ADR): +4.4% to US$133.42
• Revenue per available room (RevPAR): +5.4% to US$92.53

STR analysts note that performance in many major markets was boosted by strong group business, which moved out of the week of 25-31 March due to an earlier Easter.
emphasis added
The following graph shows the seasonal pattern for the hotel occupancy rate using the four week average.

Hotel Occupancy RateClick on graph for larger image.

The red line is for 2018, dash light blue is 2017 (record year due to hurricanes), blue is the median, and black is for 2009 (the worst year since the Great Depression for hotels).

Currently the occupancy rate, to date, is third overall - and slightly ahead of the record year in 2017 (2017 finished strong due to the impact of the hurricanes).

Data Source: STR, Courtesy of HotelNewsNow.com