Monday, April 09, 2018

Hotels: Occupancy Rate Down Year-over-Year

by Bill McBride on 4/09/2018 02:33:00 PM

From HotelNewsNow.com: STR: US hotel results for week ending 31 March

The U.S. hotel industry reported mixed year-over-year results in the three key performance metrics during the week of 25-31 March 2018, according to data from STR.

In comparison with the week of 26 March through 1 April 2017, the industry recorded the following:

Occupancy: -2.8 to 66.4%
• Average daily rate (ADR): +3.6% to US$130.81
• Revenue per available room (RevPAR): +0.7% to US$86.90

STR analysts note that performance in many major markets was affected by a drop in group business due to the Easter holiday.
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>