STR: U.S. hotel results for week ending 4 July
HENDERSONVILLE, Tennessee—U.S. hotel performance data for the week ending 4 July showed a slight decline in occupancy from the previous week, according to STR.
28 June through 4 July 2020 (percentage change from comparable week in 2019):
- Occupancy: 45.6% (-30.2%)
- Average daily rate (ADR): US$101.36 (-20.9%)
- Revenue per available room (RevPAR): US$46.21 (-44.8%)
Occupancy had risen in week-to-week comparisons for 11 straight weeks since mid-April.
“Demand came in 67,000 rooms lower than the previous week, and beyond that, July 1 was a reopening day for a lot of hotels, further impacting the occupancy equation,” said Jan Freitag, STR’s senior VP of lodging insights. “A rise in COVID-19 cases has led to states pausing or even rolling back some of their reopenings. Beaches have been a big demand driver for hotels, but with many beaches closed ahead of the July 4 holiday, all but two markets in Florida showed lower occupancy than the previous week. Growing concern around this latest spike in the pandemic has further implications for leisure and business demand alike.”
Aggregate data for the Top 25 Markets showed lower occupancy (39.6%) and ADR (US$100.07) than the national average.
Norfolk/Virginia Beach, Virginia, was the only one of those major markets to reach a 60% occupancy level (63.4%).
Three additional markets surpassed 50% occupancy: Detroit, Michigan (52.8%); Tampa/St. Petersburg, Florida (51.0%); and San Diego, California (50.3%).
Markets with the lowest occupancy levels for the week included Oahu Island, Hawaii (19.4%); Boston, Massachusetts (28.7%); and Orlando, Florida (29.3%).
Of note, in New York, New York, occupancy was 40.1%, down from 42.4% the week prior. In Seattle, Washington, occupancy was 32.5%, a slight decline from 33.2% the previous week.
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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