STR: U.S. Q3 2020 hotel performance
HENDERSONVILLE, Tennessee—The U.S. hotel industry reported its lowest third-quarter occupancy level on record, according to Q3 2020 data from STR.
Q3 2020 (percentage change from Q3 2019):
- Occupancy: 48.0% (-32.2%)
- Average daily rate (ADR): US$101.25 (-24.1%)
- Revenue per available room (RevPAR): US$48.58 (-48.5%)
The absolute occupancy and RevPAR levels were the lowest for any Q3 in STR’s U.S. database.
Among the Top 25 Markets, Oahu Island, Hawaii, saw the lowest occupancy level (24.1%), while Norfolk/Virginia Beach, Virginia, experienced the highest occupancy (61.4%).
Three additional Top 25 Markets reported occupancy above 50%: San Diego, California (51.9%); Detroit, Michigan (51.0%); and Los Angeles/Long Beach, California (50.6%).
In aggregate, the Top 25 Markets fell behind all other markets in each of the three key performance metrics.
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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