Hotels: Occupancy Rate Decreased Sharply Year-over-year due to Timing of Thanksgiving - InvestingChannel

Hotels: Occupancy Rate Decreased Sharply Year-over-year due to Timing of Thanksgiving


Note: Due to the timing of Thanksgiving, the occupancy rate was down sharply YoY last week. The rate was up sharply in the previous report.

From HotelNewsNow.com: STR: US hotel results for week ending 30 November

The U.S. hotel industry reported negative year-over-year results in the three key performance metrics during the week of 24-30 November 2019, according to data from STR.

In comparison with the week of 25 November through 1 December 2018, the industry recorded the following:
Occupancy: -11.6% to 50.6%

Average daily rate (ADR): -6.7% to US$112.28


Revenue per available room (RevPAR): -17.5% to US$56.83


STR analysts attribute significant performance declines to comparison of Thanksgiving week in 2019 against the week that followed the holiday in 2018.

The following graph shows the seasonal pattern for the hotel occupancy rate using the four week average.


Hotel Occupancy Rate
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

Related posts

Carl Icahn Increases His Stake In Take-Two Interactive To 10.68%

ValueWalk

iPad Mini Display Outperformed By Kindle Fire HD & Nexus 7

ValueWalk

Foxconn Might Open Manufacturing Plants In The U.S. [REPORT]

ValueWalk

Peter Cundill Protégé Tim McElvaine on Investing in Japan [VIDEO]

ValueWalk

Set Bing Home Page Image As Lock Screen In Windows 8

ValueWalk

Morning Market News: JCP, APO, MCHP, ZIP, ENR, LGF, EA, ATVI, COV, LNT

ValueWalk