HENDERSONVILLE, Tennessee—STR data ending with 16 May showed continued modest gains in U.S. hotel performance compared with previous weeks. Year-over-year declines remain significant although not as severe as the levels recorded in April.
10-16 May 2020 (percentage change from comparable week in 2019):
- Occupancy: 32.4% (-54.1%)
- Average daily rate (ADR): US$77.55 (-42.4%)
- Revenue per available room (RevPAR): US$25.12 (-73.6%)
Previous weekly U.S. weekly occupancy levels:
- 3-9 May 2020: 30.1%
- 26 April - 2 May 2020: 28.6%
- 19-25 April 2020: 26.0%
- 12-18 April 2020: 23.4%
- 5-11 April 2020: 21.0%
“The trend of ‘less bad’ data continued with occupancy and ADR on a slow climb driven by a fifth consecutive week-to-week increase in demand,” said Jan Freitag, STR’s senior VP of lodging insights. “Last week’s data showed demand of more than 10 million room nights sold for the first time since the end of March, and this past week, the industry inched close to 11 million. All 50 states have at least partially reopened, so slow weekly demand growth should continue with more leisure activity around the country. Weekend occupancies continue to increase at a healthy clip, especially in drive-to destinations with beach access like Florida, or national park access, such as Gatlinburg, Tennessee. The industry will remain largely dependent on the leisure segment as uncertainty remains over when hotels will be ready to accommodate large events and group business.”
Aggregate data for the Top 25 Markets showed larger year-over-year declines than the national averages: occupancy (-61.2% to 30.1%), ADR (-50.9% to US$82.46) and RevPAR (-81.0% to US$24.82).
Among those Top 25 Markets, Oahu Island, Hawaii, experienced the largest year-over-year drop in occupancy (-86.0% to 11.7%), which resulted in the steepest decrease in RevPAR (-91.2% to US$15.99).
Boston, Massachusetts, posted the largest decline in ADR (-64.6% to US$87.49).
Of note, absolute occupancy in New York, New York, was 43.6%, basically flat from the previous week (43.7%).
In Seattle, Washington, occupancy was 27.6%, up from 24.8% the week prior.
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.
About STR
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.
North America Media Contact
Haley Luther
Communications Coordinator
hluther@str.com
+1 (615) 824-8664 ext. 3500
General Media Inbox:
media@str.com
0 Comments