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Thursday, April 13, 2023

Hotels: Occupancy Rate Down 7.4% Year-over-year

by Calculated Risk on 4/13/2023 01:18:00 PM

Affected by both the Easter and Passover calendar shift, U.S. hotel performance reflected lower year-over-year comparisons from the previous week, according to STR‘s latest data through April 8.

April 2-8, 2023 (percentage change from comparable week in 2022):

Occupancy: 61.3% (-7.4%)
• Average daily rate (ADR): $153.30 (+0.8%)
• Revenue per available room (RevPAR): $94.00 (-6.7%)
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 2023, black is 2020, blue is the median, and dashed light blue is for 2022.  Dashed purple is for 2018, the record year for hotel occupancy. 

The 4-week average of the occupancy rate is close to 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 move more sideways until the Summer.