Finance & DevelopmentFinanceSTR: U.S. Hotel Occupancy Declines After 11 Consecutive Weeks of Gains

STR: U.S. Hotel Occupancy Declines After 11 Consecutive Weeks of Gains

HENDERSONVILLE, Tenn. — U.S. hotel performance data for the week of June 28 through July 4, 2020, showed a slight decline in occupancy from the previous week, according to STR.

U.S. Hotel Industry KPIs

June 28-July 4, 2020 vs. June 30-July 6, 2019

 

Occupancy: 45.6% (-30.2%)
ADR: $101.36 (-20.9%)
RevPAR: $46.21 (-44.8%)

Compared to June 30 through July 6, 2019, occupancy for the week ending in July 4, 2020, declined 30.2 percent year-over-year to 45.6 percent, average daily rate (ADR) fell 20.9 percent to $101.36, and revenue per available room (RevPAR) dropped 44.8 percent to $46.21.

Occupancy had risen in week-to-week comparisons for 11 straight weeks since mid-April.

“Demand came in 67,000 rooms lower than the previous week, and beyond that, July 1 was a reopening day for a lot of hotels, further impacting the occupancy equation,” said Jan Freitag, STR’s senior vice president of lodging insights. “A rise in COVID-19 cases has led to states pausing or even rolling back some of their reopenings. Beaches have been a big demand driver for hotels, but with many beaches closed ahead of the July 4 holiday, all but two markets in Florida showed lower occupancy than the previous week. Growing concern around this latest spike in the pandemic has further implications for leisure and business demand alike.”

STR June 28-July 4, 2020

Top 25 Market Performance — June 28-July 4, 2020

Aggregate data for the Top 25 Markets during the week of June 28-July 4, 2020, showed lower occupancy (39.6 percent) and ADR ($100.07) than the national average. Norfolk/Virginia Beach, Va., was the only one of those major markets to reach a 60 percent occupancy level (63.4 percent). Three additional markets surpassed 50 percent occupancy: Detroit (52.8 percent); Tampa/St. Petersburg, Fla. (51 percent); and San Diego, Calif. (50.3 percent).

Markets with the lowest occupancy levels for the week included Oahu Island, Hawaii (19.4 percent); Boston (28.7 percent); and Orlando, Fla. (29.3 percent).

Of note, in New York, occupancy was 40.1 percent, down from 42.4 percent the week prior. In Seattle, occupancy was 32.5 percent, a slight decline from 33.2 percent the previous week.

 


Subscribe to Lodging Daily News for updates.

SUBSCRIBE

RELATED ARTICLES

New Pyramid Global Hospitality COO Continues Focus on Big Data to Benefit Owners

Pyramid Global Hospitality Chief Operating Officer Eric Habermann retired in April following seven years with the company and a nearly 40-year career in hospitality....

Grand Hyatt Kauai Resort & Spa Launches Scholarship Program

Grand Hyatt Kauai Resort & Spa, a 605-room resort, announced the launch of a scholarship program to support the continued education of its colleagues...

Hilton Surpasses 500 Hotels in Florida

MCLEAN, Virginia, and MIAMI, Florida—Hilton announced a major milestone as the company surpassed 500 open hotels across Florida. This growth was fueled in part...

Hunter Hotel Advisors Brokers Sale of Residence Inn Detroit Novi

ATLANTA, Georgia—Hunter Hotel Advisors (Hunter) announced the successful sale of the 107-key Residence Inn Detroit Novi. Spark GHC purchased the property from an institutional...

PMZ Realty Capital Arranges Loan for Hampton Inn Marysville

PMZ Realty Capital LLC announced that it has secured a $5.3 million loan for the Hampton Inn Marysville, located in Marysville, Ohio. The loan...

LivAway Suites Breaks Ground on New Property in Tucson, Arizona

SALT LAKE CITY, Utah—LivAway Suites announced the groundbreaking of its newest property in Tucson, Arizona, which marks its fourth in the state over the...