Saturday, May 28, 2011

Hotels: Occupancy Rate continues to improve after soft patch

by Calculated Risk on 5/28/2011 10:02:00 PM

Here is the weekly update on hotels from HotelNewsNow.com: US hotels post 11.6% weekly RevPAR gain

The U.S. hotel industry recorded an 11.6% revenue-per-available-room gain for the week ending 21 May 2011, according to data from STR.

The increase pushed RevPAR to US$67.52 for the week. The industry’s occupancy rose 6.2% to 65.4%, and its average daily rate increased 5.1% to US$103.23.

"The U.S. hotel industry reported its strongest weekly performance since early April," said Steve Hood, senior VP at STR.
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 using a four week average for the occupancy rate.

Back in March the four week average was almost back to 2008 levels, but then hotels hit a soft patch. Over the last couple of weeks, the occupancy rate has increased again - and the four week average is now back close to 2008 levels.

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

Earlier ...
Summary for Week Ending May 27th
Schedule for Week of May 29th