Hotels: Occupancy Rate Declined 38.7% Year-over-year

From HotelNewsNow.com: STR: US hotel results for week ending 27 June

U.S. hotel performance data for the week ending 27 June showed another small rise from previous weeks and less severe year-over-year declines, according to STR.

21-27 June 2020 (percentage change from comparable week in 2019):

Occupancy: 46.2% (-38.7%)
• Average daily rate (ADR): US$95.37 (-29.0%)
• Revenue per available room (RevPAR): US$44.03 (-56.5%)
emphasis added

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

Hotel Occupancy RateClick on graph for larger image.

The red line is for 2020, dash light blue is 2019, blue is the median, and black is for 2009 (the worst year probably since the Great Depression for hotels).

Usually hotel occupancy starts to pick up seasonally in early June. So some of the recent pickup might be seasonal (summer travel).   Note that summer occupancy usually peaks at the end of July or in early August.

According to STR, the improvement appears related mostly to leisure travel as opposed to business travel.

Note: Y-axis doesn’t start at zero to better show the seasonal change.

Related posts

Idiocy in Spain: Bank Proposal to Build More Houses, Issue More Mortgages, Despite Massive Inventory and Enormous Drop in Sales

Mish Global Economic Trend Analysis

Sky City: China to Build World’s Tallest Building, 220 Stories, in 90 Days

Mish Global Economic Trend Analysis

It’s No Wonder People Don’t Understand the “Public” Debt

Angry Bear

EU Budget Laugh of the Day “No One Is Discussing Quality”

Mish Global Economic Trend Analysis

Via Barry Ritholtz’s  Big Picture comes this PBS six minute …

Angry Bear

Politics and Specific Policies

Angry Bear