by Calculated Risk on 12/12/2016 08:47:00 AM
Monday, December 12, 2016
Hotels: Close to Record Year for Occupancy
From HotelNewsNow.com: STR: US hotel results for week ending 3 December
The U.S. hotel industry reported mostly negative results in the three key performance metrics during the week of 27 November through 3 December 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 fell 1.5% to 56.0%. Average daily rate (ADR) increased 0.5% to US$117.31. Revenue per available room (RevPAR) declined 1.0% to US$65.65.
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. With a solid finish over the next few weeks, 2016 could be the best year on record.
Year-to-date, the three best years are:
1) 2015: 66.85% average occupancy.
2) 2016: 66.84% average.
3) 2000: 66.1% average.
For hotels, the Fall business travel season is over and the occupancy rate will decline into the holiday season.
Data Source: STR, Courtesy of HotelNewsNow.com