STR: U.S. Hotel Occupancy at 23.4 Percent for Week of April 12-18

New York City

HENDERSONVILLE, Tenn. — Reflecting the continued impact of the COVID-19 pandemic, the U.S. hotel industry reported significant year-over-year declines across three key performance metrics during the week of April 12-18, 2020, according to data from STR. In comparison with the week of April 14-20, 2019, the industry recorded a 64.4 percent decline in occupancy to 23.4 percent, a 42.2 percent decline in average daily rate (ADR) to $74.53, and a 79.4 percent decline in revenue per available room (RevPAR) to $17.43.

“Absolute occupancy and ADR were actually up slightly from the previous week, but it is important to state that this is not any type of early-recovery sign,” said Jan Freitag, STR’s senior vice president of lodging insights. “Rather, more demand can be attributed to frontline workers. A perfect example, the most notable occupancy level (33.3 percent) came in the New York City market, which has welcomed an influx of workers from the medical community.”

Aggregate data for the Top 25 Markets showed steeper declines across the metrics for the week of April 12-18: occupancy dropped 71.3 percent to 21.5 percent, ADR dropped 48.3 percent to $81.89, and RevPAR dropped 85.2 percent to $17.63.

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Among those Top 25 Markets, Oahu Island, Hawaii, experienced the largest drop in occupancy (down 90.4 percent) and the only single-digit absolute occupancy level (8 percent). The decline in occupancy resulted in the steepest decrease in RevPAR (down 94 percent to $11.39). Miami/Hialeah, Florida, posted the largest decline in ADR (down 56.8 percent to $101.51). Occupancy in the New York market was down 63.8 percent to 33.3 percent. In Seattle, occupancy dropped 71.6 percent to 20 percent.

 


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