STR: U.S. hotel results for week ending 29 August
HENDERSONVILLE, Tennessee—U.S. hotel occupancy decreased slightly for the second consecutive week, according to the latest data from STR.
23-29 August 2020 (percentage change from comparable week in 2019):
- Occupancy: 48.2% (-27.7%)
- Average daily rate (ADR): US$98.39 (-23.2%)
- Revenue per available room (RevPAR): US$47.38 (-44.5%)
The industry sold 237,000 fewer room nights than the previous week, which represented a demand decrease of 1.3%. Week-over-week demand improvements were a constant since mid-April, but as summer ends and leisure travel fades, hotel performance gains have flattened.
Aggregate data for the Top 25 Markets showed lower occupancy (42.5%), but higher ADR (US$99.22) than all other markets.
Norfolk/Virginia Beach, Virginia, was the only one of those major markets to reach a 60% occupancy level (60.6%).
Three additional markets reached or surpassed 50% occupancy: Los Angeles/Long Beach, California (53.0%); San Diego, California (52.3%); and Houston, Texas (51.0%).
A week-over-week jump in Houston occupancy (38.9% the previous week) is attributable to evacuations and displaced residents due to Hurricane Laura.
Markets with the lowest occupancy levels for the week included Oahu Island, Hawaii (26.6%), and Orlando, Florida (27.2%).
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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