by Calculated Risk on 10/09/2016 11:18:00 AM
Sunday, October 09, 2016
Hotels: Occupancy Rate on Track to be 2nd Best Year
From HotelNewsNow.com: STR: US hotel results for week ending 1 October
The U.S. hotel industry recorded positive results in the three key performance metrics during the week of 25 September through 1 October 2016, according to data from STR.The following graph shows the seasonal pattern for the hotel occupancy rate using the four week average.
In year-over-year comparisons, the industry’s occupancy increased 1.8% to 70.0%. Average daily rate (ADR) was up 1.3% to US$126.95. Revenue per available room (RevPAR) grew 3.2% to US$88.83.
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.
Year-to-date, the three best years are:
2015: 67.5% average occupancy.
2016: 67.3% average.
2000: 66.9% average.
For hotels, this is now the Fall business travel season that will continue for another month or so - and then the occupancy rate will decline into the holiday season.
Data Source: STR, Courtesy of HotelNewsNow.com