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Thursday, June 02, 2022

Hotels: Occupancy Rate Up 3.2% Compared to Same Week in 2019

by Calculated Risk on 6/02/2022 03:50:00 PM

This was the first increase in the occupancy rate compared to the same week in 2019.  This was partly due to the timing of Memorial Day, and I expect the occupancy rate to be down compared to 2019 next week.

U.S. hotel performance dipped slightly from the previous week, according to STR‘s latest data through May 28.

May 22-28, 2022 (percentage change from comparable week in 2019*):

Occupancy: 66.5% (+3.2%)
• Average daily rate (ADR): $151.73 (+22.2%)
• Revenue per available room (RevPAR): $100.97 (+26.2%)

*Due to the pandemic impact, STR is measuring recovery against comparable time periods from 2019.
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 2022, black is 2020, blue is the median, and dashed light blue is for 2021.  Dashed purple is 2019 (STR is comparing to a strong year for hotels).

The 4-week average of the occupancy rate is above the median rate for the previous 20 years (Blue).

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

The 4-week average of the occupancy rate will now mostly move sideways seasonally until the summer.