Friday, February 21, 2020

Hotels: Occupancy Rate Increases Year-over-year

by Calculated Risk on 2/21/2020 04:58:00 PM

From HotelNewsNow.com: STR: US hotel results for week ending 15 February

The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 9-15 February 2020, according to data from STR.

In comparison with the week of 10-16 February 2019, the industry recorded the following:

Occupancy: +0.2% to 63.6%
• Average daily rate (ADR): +0.9% to US$133.55
• Revenue per available room (RevPAR): +1.2% to US$85.00
emphasis added
The following graph shows the seasonal pattern for the hotel occupancy rate using the four week average.

Hotel Occupancy RateClick on graph for larger image.

The red line is for 2020, dash light blue is 2019, blue is the median, and black is for 2009 (the worst year probably since the Great Depression for hotels).

2020 is off to a solid start, however, STR notes that the new coronavirus could have a significant negative impact on hotels.