Hotels: Occupancy Rate Down Year-over-Year
From HotelNewsNow.com: STR: US hotel results for week ending 5 August
The U.S. hotel industry reported mostly negative year-over-year results in the three key performance metrics during the week of 30 July through 5 August 2017, according to data from STR.The following graph shows the seasonal pattern for the hotel occupancy rate using the four week average.
In comparison with the week of 31 July through 6 August 2016, the industry recorded the following:
• Occupancy: -1.5% to 74.5%
• Average daily rate (ADR): +0.7% to US$129.00
• Revenue per available room (RevPAR): -0.8% to US$96.08
The red line is for 2017, dash light blue is 2016, dashed orange is 2015 (best year on record), blue is the median, and black is for 2009 (the worst year since the Great Depression for hotels).
Currently the occupancy rate is tracking close to last year, and behind the record year in 2015.
Seasonally, the occupancy rate will remain strong over the next few weeks and then decline into the Fall.
Data Source: STR, Courtesy of HotelNewsNow.com