Hotels: Occupancy Rate Decreased Year-over-year
From HotelNewsNow.com: STR: US hotel results for week ending 2 November
The U.S. hotel industry reported nearly flat year-over-year results in the three key performance metrics during the week of 27 October through 2 November 2019, 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 28 October through 3 November 2018, the industry recorded the following:
• Occupancy: -0.3% to 62.7%
• Average daily rate (ADR): +0.6% to US$126.04
• Revenue per available room (RevPAR): +0.3% to US$79.05
Click on graph for larger image.
The red line is for 2019, dash light blue is 2018 (record year), blue is the median, and black is for 2009 (the worst year probably since the Great Depression for hotels).
Occupancy has been solid in 2019, and close to-date compared to the previous 4 years.
However occupancy will be lower this year than in 2018 (the record year).
Seasonally, the 4-week average of the occupancy rate will decline into the winter.
Data Source: STR, Courtesy of HotelNewsNow.com