by Calculated Risk on 1/11/2026 08:12:00 AM

Hotel occupancy was weak in 2025.   It is difficult to tell early in the year because travel is always weak in early January. 

From STR: U.S. hotel results for week ending 3 January

The U.S. hotel industry reported positive year-over-year comparisons, according to CoStar’s latest data through 3 January. ...

28 December 2025 through 3 January 2026 (percentage change from comparable week in 2024 and 2025):

• Occupancy: 50.5% (+4.4%)
• Average daily rate (ADR): US$175.47 (+3.4%)
• Revenue per available room (RevPAR): US$88.65 (+7.9%)
emphasis added

The following graph shows the seasonal pattern for the hotel occupancy rate using the four-week average.

Click on graph for larger image.

The red line is for 2026, blue is the median, and dashed light blue is for 2025.  Dashed black is for 2018, the record year for hotel occupancy. 

It is difficult to judge performance early in the year.

Note: Y-axis doesn't start at zero to better show the seasonal change.

The 4-week average will increase seasonally for the next few months.