STR: U.S. hotel results for week ending 10 October
HENDERSONVILLE, Tennessee— U.S. hotel weekly occupancy hit 50% for just the second time since the low point of the pandemic, according to the latest data from STR through 10 October.
4-10 October 2020 (percentage change from comparable week in 2019):
- Occupancy: 50.0% (-29.2%)
- Average daily rate (ADR): US$97.67 (-25.9%)
- Revenue per available room (RevPAR): US$48.85 (-47.5%)
While a handful of the highest occupancy markets were those in areas affected by natural disasters (i.e. California wildfires), Saturday produced the week’s highest occupancy (65.2%) and ADR (US$110.84), indicating that the leisure and weekend staycation demand seen during the summer may make appearances into the fall.
Aggregate data for the Top 25 Markets showed lower occupancy (44.1%) but higher ADR (US$101.17) than all other markets.
Seven of those major markets reached or surpassed 50% occupancy, led by Norfolk/Virginia Beach, Virginia (54.7%); Houston, Texas (54.4%); and San Diego, California (54.2%).
Markets with the lowest occupancy levels for the week included Oahu Island, Hawaii (19.3%), and Orlando, Florida (33.7%).
Additional Performance Data
STR’s world-leading hotel performance sample comprises 68,000 properties and 9.1 million rooms around the globe. Members of the media should refer to the contacts listed below for additional data requests.
STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.
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