STR: U.S. hotel results for week ending 5 September
HENDERSONVILLE, Tennessee—Boosted in part by Labor Day weekend, U.S. hotel occupancy increased slightly over the previous week, according to the latest data from STR.
30 August through 5 September 2020 (percentage change from comparable week in 2019):
- Occupancy: 49.4% (-18.9%)
- Average daily rate (ADR): US$100.97 (-17.1%)
- Revenue per available room (RevPAR): US$49.87 (-32.8%)
Hotel demand grew to 18 million room nights sold (+500,000 week over week). Saturday (5 September) occupancy came in at 69.0%, just 2.6% less than the comparable Saturday in 2019, and leisure markets that have showed the highest summer occupancy levels reported strong increases from the previous weekend. At the same time, the markets with the highest occupancy for the week were not leisure destinations. Rather, the high occupancy markets were those housing displaced residents from Hurricane Laura and the California wildfires.
Aggregate data for the Top 25 Markets showed lower occupancy (44.3%), but higher ADR (US$101.82) than all other markets.
Norfolk/Virginia Beach, Virginia, was the only one of those major markets to reach a 60% occupancy level (60.6%).
Five additional markets reached or surpassed 50% occupancy: Houston, Texas (57.8%); Los Angeles/Long Beach, California (55.3%); San Diego, California (54.6%); New Orleans, Louisiana (51.7%); and Atlanta, Georgia (50.2%).
Houston was the only market to report a year-over-year increase in occupancy (+13.5%), which is attributable to evacuations and displaced residents due to Hurricane Laura.
Markets with the lowest occupancy levels for the week included Oahu Island, Hawaii (24.4%), and Orlando, Florida (30.9%).
Additional Performance Data
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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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