by Calculated Risk on 12/08/2019 11:05:00 AM
Sunday, December 08, 2019
Note: Due to the timing of Thanksgiving, the occupancy rate was down sharply YoY last week. The rate was up sharply in the previous report.
From HotelNewsNow.com: STR: US hotel results for week ending 30 November
he U.S. hotel industry reported negative year-over-year results in the three key performance metrics during the week of 24-30 November 2019, 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 the week of 25 November through 1 December 2018, the industry recorded the following:
• Occupancy: -11.6% to 50.6%
• Average daily rate (ADR): -6.7% to US$112.28
• Revenue per available room (RevPAR): -17.5% to US$56.83
STR analysts attribute significant performance declines to comparison of Thanksgiving week in 2019 against the week that followed the holiday in 2018.
Click on graph for larger image.
The red line is for 2019, dash light blue is 2018 (record year), blue is the median, and black is for 2009 (the worst year probably since the Great Depression for hotels).
Occupancy has been solid in 2019, and close to-date compared to the previous 4 years.
However occupancy will be lower this year than in 2018 (the record year).
Seasonally, the 4-week average of the occupancy rate will decline into the winter.
Data Source: STR, Courtesy of HotelNewsNow.com
Posted by Calculated Risk on 12/08/2019 11:05:00 AM