Thursday, April 08, 2021

Hotels: Occupancy Rate Down 16% Compared to Same Week in 2019

by Calculated Risk on 4/08/2021 11:30:00 AM

Note: The year-over-year occupancy comparisons are easy, since occupancy declined sharply at the onset of the pandemic. However, occupancy is still down significantly from normal levels.

The occupancy rate is down 16% compared to the same week in 2019.

U.S. hotel occupancy remained flat from the previous week, while the country’s ADR and RevPAR levels were its highest since the beginning of March 2020, according to STR‘s latest weekly data through April 3, 2021.

March 28 through April 3, 2021:

Occupancy: 57.9%
• Average daily rate (ADR): US$112.76
• Revenue per available room (RevPAR): US$65.33

The occupancy level was 1 point below the pandemic peak reached two weeks prior. The RevPAR value represented 73.1% of the comparable 2019 level, which is the closest the U.S. has come to RevPAR recovery territory in STR’s Market Recovery Monitor.
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 2021, black is 2020, blue is the median, and dashed light blue is for 2009 (the worst year since the Great Depression for hotels prior to 2020).

Occupancy has increased to 2009 levels - and 2009 was horrible for hotels.

Note: Y-axis doesn't start at zero to better show the seasonal change.