Hotels in Major Cities Suffer Holiday Slump

    Hotel performance across the country wasn’t as merry as last year, according to STR. New York City in particular experienced a notable drop in occupancy, ADR, and RevPAR over the Christmas holiday. During the week of Dec. 20 to 26, occupancy declined by 4 percent, ADR by 1.7 percent, and RevPAR by 5.6 percent year-over-year. Everything from the strong dollar to short-term online rental sites like Airbnb contributed to the slump, though the crazy weather also didn’t help matters. Meanwhile, across the Atlantic, Paris experienced a 30 percent drop in hotel bookings over New Year’s weekend due to lingering concerns over terrorist attacks. At this point 2016 can only get better. Read more here.