by Calculated Risk on 6/25/2009 02:07:00 PM
Thursday, June 25, 2009
Hotel RevPAR off 20.5 Percent
From HotelNewsNow.com: STR posts US results for 14-20 June 2009
In year-over-year measurements, the industry’s occupancy fell 11.5 percent to end the week at 63.0 percent. Average daily rate dropped 10.1 percent to finish the week at US$96.78. Revenue per available room [RevPAR] for the week decreased 20.5 percent to finish at US$61.01.The report also includes some hightlights on the performance for the top 25 markets. As an example, occupancy is off almost 20% in Dallas and Phoenix, and the Average daily rate (ADR) is off 30% and RevPAR off 35% in New York. Ouch.
No wonder more and more hotels are defaulting ...
![Hotel Occupancy Rate](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhqZYO3ticI1ix26Lg4YvxfhiMBXK26Hlvh5CY9ETZvBUylUhgkC6do6UHRIIu-nOCj9ix5Bz-dt2DG97kteGVKfvDN5ngwNqanf0QBEYua2FP5imuesVpfsHHMscKitd6rnoQxDQ/s320/HotelJune25.jpg)
This graph shows the YoY change in the occupancy rate (3 week trailing average).
The three week average is off 12.1% from the same period in 2008.
The average daily rate is down 10.1%, so RevPAR is off 20.5% from the same week last year.
Note: some readers might notice the occupancy rate has risen to 63% - but that is just seasonal. The hotel occupancy rate is usually the highest during the peak vacation months of June, July and August.