STR: U.S. Hotel Occupancy at 35.4 Percent in Week Leading Up to Memorial Day

May 2020

HENDERSONVILLE, Tenn. — STR data for the week of May 17-23 showed another small rise from previous weeks in U.S. hotel performance. Year-over-year declines remained significant although not as severe as the levels recorded in April.

U.S. Hotel Industry KPIs
May 17-23, 2020 vs. May 19-25, 2019

 

Occupancy: -50.2% to 35.4%
ADR: -39.7% to $80.92
RevPAR: -69.9% to $28.67

Year over year, occupancy dropped 50.2 percent to 35.4 percent, average daily rate (ADR) fell 39.7 percent to $80.92, and revenue per available room (RevPAR) declined 69.9 percent to $28.67.

Previous weekly U.S. weekly occupancy levels were: 32.4 percent (May 10-16), 30.1 percent (May 3-9), 28.6 percent (April 26-May 2), 26 percent (April 19-25), 23.4 percent (April 12-18), and 21 percent (April 5-11).

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“The steady climb in national occupancy continued, and to no surprise, the highest levels were recorded on Friday and Saturday ahead of Memorial Day,” said Jan Freitag, STR’s senior vice president of lodging insights. “Occupancy gains continue to be led by popular leisure markets like the Florida Panhandle, Mobile, Myrtle Beach, and Daytona Beach. We even saw a weekday-to-weekend ADR premium in higher occupancy markets.”

“What was also noticeable in the week’s data was the higher occupancy levels across all classes of hotels,” Freitag added. “Economy properties continued to lead, but we also saw the higher-priced end of the market up over 20 percent. Regardless, upper-upscale occupancy continues to lag the broader industry as meeting demand is still not returning.”

Top 25 Market Performance — May 17-23, 2020

Aggregate data for the Top 25 Markets showed larger year-over-year declines for the week of May 17-23 than the national averages: occupancy dropped 58.7 percent to 32.4 percent), ADR fell 48.5 percent to $84.47, and RevPAR decreased 78.7 percent to $27.36.

Four of the Top 25 Markets saw occupancy levels above 40 percent: New York (44.9 percent); Tampa/St. Petersburg, Florida (41.5 percent); Norfolk/Virginia Beach, Virginia (40.5 percent); and Phoenix, Arizona (40.1 percent). Of those markets, Phoenix showed the largest gain from its occupancy level the previous week (33.6 percent).

Markets with the lowest occupancy levels for the week included Oahu Island, Hawaii (12.7 percent), Orlando (22.5 percent), and Boston (22.8 percent).

Of note, absolute occupancy in Seattle showed no movement from the week prior (27.6 percent).

 


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