HENDERSONVILLE, Tennessee—STR data ending with 6 June showed another small rise from previous weeks in U.S. hotel performance. Year-over-year declines remained significant although not as severe as the levels recorded previously.
31 May through 6 June 2020 (percentage change from comparable week in 2019):
- Occupancy: 39.3% (-45.3%)
- Average daily rate (ADR): US$85.01 (-35.9%)
- Revenue per available room (RevPAR): US$33.43 (-65.0%)
*Previous weekly U.S. weekly occupancy levels:
- 24-30 May 2020: 36.4%
- 17-23 May 2020: 35.3%
- 10-16 May 2020: 32.3%
- 3-9 May 2020: 30.3%
- 26 April - 2 May 2020: 28.8%
- 19-25 April 2020: 26.2%
- 12-18 April 2020: 24.4%
- 5-11 April 2020: 22.0%
“Not much different from previous weeks, occupancy continued to climb toward the 40% mark with noticeably higher levels on Friday and Saturday,” said Jan Freitag, STR’s senior VP of lodging insights. “The lower end of the market continued to lead, with economy properties finally selling more than half of their rooms again, although all hotel classes were comfortably above 20%. Drilling down to the submarket level, the highest occupancy levels were recorded in various pockets of New York City as well as popular leisure spots in Florida, Texas and South Carolina. Thanks to higher demand, one submarket, West Palm Beach, showed a 21.0% year-over-year ADR increase for the entire week.
“Once again, there wasn’t a significant week-to-week change in the markets that were the focus of protests and unrest. Like we noted last week, there was not a great deal of demand in downtown areas previously, and most of the major metros showed small gains from the previous week.”
Aggregate data for the Top 25 Markets showed lower occupancy (35.4%) than the national average, but slightly higher ADR ( US$88.54).
Seven of those markets saw occupancy levels above 40%: Norfolk/Virginia Beach, Virginia (48.4%); New York, New York (47.1%); Phoenix, Arizona (44.7%); Philadelphia, Pennsylvania-New Jersey (42.8%); Tampa/St. Petersburg, Florida (41.8%); Atlanta, Georgia (41.4%); and Detroit, Michigan (40.8%).
Markets with the lowest occupancy levels for the week included Oahu Island, Hawaii (10.6%); Orlando, Florida (23.5%); and Boston, Massachusetts (24.0%).
Of note, in Seattle, Washington, occupancy was 29.5%, up slightly from 28.1% the week prior.
*Data updated 10 June 2020
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