by Calculated Risk on 4/24/2014 03:12:00 PM
Thursday, April 24, 2014
From HotelNewsNow.com: US hotels report occupancy, RevPAR decreases
The U.S. hotel industry reported occupancy and revenue-per-available-room decreases during the week of 13-19 April 2014, according to data from STR, parent company of Hotel News Now.Note: ADR: Average Daily Rate, RevPAR: Revenue per Available Room.
Overall, in year-over-year measurements, the industry’s occupancy decreased 2.7% to 62.8%. RevPAR decreased 0.3% to $70.58. Average daily rate increased 2.5% to $112.37.
The weekly decline was probably related to the timing of Easter, however the 4-week average of the occupancy rate is solidly above the median for 2000-2007, and is at the highest level since 2000.
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 2014 and black is for 2009 - the worst year since the Great Depression for hotels.
Through April 19th, the 4-week average of the occupancy rate is tracking higher than pre-recession levels.
Data Source: Smith Travel Research, Courtesy of HotelNewsNow.com
Posted by Calculated Risk on 4/24/2014 03:12:00 PM