by Calculated Risk on 7/17/2016 11:06:00 AM
Sunday, July 17, 2016
Hotels: Occupancy Rate Tracking just behind Record Year
Note: The large year-over-year decline in the occupancy rate last week was related to the timing of the July 4th weekend.
From HotelNewsNow.com: STR: US hotel results for week ending 9 July
The U.S. hotel industry reported mixed year-over-year results in the three key performance metrics during the week of 3-9 July 2016, according to data from STR.The following graph shows the seasonal pattern for the hotel occupancy rate using the four week average.
In comparison with a full 2015 week that did not include the Fourth of July, the industry’s occupancy decreased 6.4% to 67.4%. Average daily rate was up 1.3% to US$121.11. Revenue per available room fell 5.2% to US$81.59.
emphasis added
2015 was the best year on record for hotels.
So far 2016 is tracking just behind 2015, and well ahead of the median rate.
The 4-week average occupancy rate should remain above 70% during the Summer travel period.
Data Source: Smith Travel Research, Courtesy of HotelNewsNow.com