May 20, 2020

U.S. Occupancy Inches Up for Fourth Consecutive Week

According to the latest weekly results from STR, U.S. occupancy continued showing modest increases during the week of May 3-9, 2020, compared with previous weeks. The metric reached 30.1 percent during the week.

Previous weekly U.S. weekly occupancy levels:

  • April 26-May 2: 28.6 percent
  • April 19-25, 2020: 26 percent
  • April 12-18, 2020: 23.4 percent
  • April 5-11, 2020: 21 percent
Overall, the week’s performance showed a similar level of year-over-year decline. In comparison with the week of May 5-11, 2019, the industry recorded the following:

  • Occupancy: -55.9 percent to 30.1 percent
  • Average daily rate: -42.1 percent to US$76.35
  • Revenue per available room: -74.4 percent to US$22.95
“The industry reported its fourth consecutive week-to-week increase in demand as the slow and steady ascent in national occupancy continued,” said Jan Freitag, STR’s senior VP of lodging insights. “More people are flying, as shown in daily checkpoint counts from the [Transportation Security Administration], and more people are staying in hotels for a variety of purposes—the weekly number of rooms sold topped 10 million for the first time since the end of March. The markets benefiting more from leisure sources in areas with more relaxed distancing measures will see a sharper recovery line than others. Overall, the recovery will be uneven across the country.”

According to STR, aggregate data for the top 25 markets showed larger year-over-year declines than the national averages: occupancy (-63.2 percent to 27.9 percent), ADR (-49.5 percent to US$82.68) and RevPAR (-81.4 percent to US$23.07).

Copyright 2020 Questex LLC. All rights reserved. From https://www.hotelmanagement.net. By Elaine Simon.

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