by Calculated Risk on 3/14/2014 11:05:00 AM
Friday, March 14, 2014
Hotel Occupancy Rate increased 2.1% year-over-year in latest Survey
From HotelNewsNow.com: STR: US results for week ending 8 March
The U.S. hotel industry posted positive results in the three key performance measurements during the week of 2-8 March 2014, according to data from STR.Note: ADR: Average Daily Rate, RevPAR: Revenue per Available Room.
In year-over-year measurements, the industry’s occupancy increased 2.1 percent to 64.0 percent. Average daily rate rose 4.8 percent to finish the week at US$114.85. Revenue per available room for the week was up 7.1 percent to finish at US$73.52.
emphasis added
During the same week in 2008, RevPAR was around $65. and ADR was at $108. In 2009, RevPAR and ADR declined sharply, but these metrics are now at new highs.
The 4-week average of the occupancy rate is close to normal levels.
The following graph shows the seasonal pattern for the hotel occupancy rate using the four week average.
![Hotel Occupancy Rate](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiLLe2LDfwutgxXRmDJnaY7n_2WMGFQD7eWQ5DC9d9cEy34ypNAvJmxX9Fw2XSJhvrTcAtNVLO7BM9kQcHVRkFiSJd4yXIIwuytLF4riY-Bx6FspLnP0sPsVUOheeVRLyQEgF39/s320/HotelMar142014.jpg)
The red line is for 2014 and black is for 2009 - the worst year since the Great Depression for hotels.
Through March 8th, the 4-week average of the occupancy rate is tracking slightly higher than pre-recession levels.
It looks like 2014 should be a solid year for hotels.
Data Source: Smith Travel Research, Courtesy of HotelNewsNow.com