Hotels: Hotel Occupancy Solid in early March
Hotel occupancy has picked up in recent weeks and is now close to the record year (2015 was the record).
From HotelNewsNow.com: STR: US hotel results for week ending 11 March
The U.S. hotel industry reported positive results in the three key performance metrics during the week of 5-11 March 2017, according to data from STR.The following graph shows the seasonal pattern for the hotel occupancy rate using the four week average.
In a year-over-year comparison with the week of 6-12 March 2016:
• Occupancy: +0.8% to 67.4%
• Average daily rate (ADR): +3.9% to US$128.61
• Revenue per available room (RevPAR): +4.8% to US$86.72
The red line is for 2017, dashed is 2015, blue is the median, and black is for 2009 - the worst year since the Great Depression for hotels.
2015 was the best year on record for hotels.
For hotels, occupancy will now move mostly sideways until the summer travel season.
Data Source: STR, Courtesy of HotelNewsNow.com