Hotels: Occupancy Rate Down 13% Compared to Same Week in 2019

Note: The year-over-year occupancy comparisons are easy, since occupancy declined sharply at the onset of the pandemic. However, occupancy is still down significantly from normal levels.

The occupancy rate is down 13% compared to the same week in 2019.

U.S. weekly hotel occupancy fell 2.6 percentage points from the previous week, according to STR‘s latest data through April 17.

April 11-17, 2021:

Occupancy: 57.3%
• Average daily rate (ADR): US$107.16
• Revenue per available room (RevPAR): US$61.37

Following the end of spring break, weekly demand fell back below the 22 million mark, and occupancy dipped to its lowest level since mid-March. The ADR level was also US$5 less after two straight weeks above US$112.
emphasis added

For more, see STR’s U.S. Market Recovery Monitor

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 2021, black is 2020, blue is the median, and dashed light blue is for 2009 (the worst year since the Great Depression for hotels prior to 2020).

Occupancy is now above the horrible 2009 levels.

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