Thursday, April 21, 2011

Hotels: Occupancy Rate improves in Latest Survey

by Bill McBride on 4/21/2011 02:38:00 PM

Here is the weekly update on hotels from HotelNewsNow.com: Oahu Island reports strong weekly results

Overall, the U.S. hotel industry’s occupancy was up 4.8% to 63.2%, ADR increased 3.6% to US$102.28, and RevPAR finished the week up 8.5%to US$64.67.
Note: ADR: Average Daily Rate, RevPAR: Revenue per Available Room.

Hotel Occupancy RateClick on graph for larger image in graph gallery.

This graph shows the seasonal pattern for the hotel occupancy rate.

The occupancy rate is well above the levels in 2009 and 2010, but still below the occupancy rate for the same period in 2008.

RevPAR and ADR are well below the peak levels prior to the recession. So even though the occupancy rate has improved, hotel income is still much lower now than prior to the recession.

Data Source: Smith Travel Research, Courtesy of HotelNewsNow.com