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

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

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.

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.

 


Subscribe to Lodging Daily News for updates.

SUBSCRIBE

RELATED ARTICLES

Henderson Beach Resort Announces Opening of Primrose Coastal Italian

DESTIN, Florida—Henderson Beach Resort announced the official opening of Primrose Coastal Italian, its signature restaurant led by executive chef Scott Plumley. Now open to...

JLL Announces Sale of Clarion Hotel Airport in Portland, Maine

BOSTON, Massachusetts—JLL’s Hotels & Hospitality Group announced the sale of the Clarion Hotel Airport, a 149-room full-service hotel in Portland, Maine. JLL represented the...

Tech Talk: International Hospitality Technology Hall of Fame Inductee Luis Segredo on Driving Innovation

LODGING recently spoke with 2025 International Hospitality Technology Hall of Fame inductee Luis Segredo, CEO of Hapi (Hotel API) and Data Travel, LLC, which...

Short-Term Restraint: Understanding the Effect of Federal Policy Changes on Lodging Demand 

Predicting future demand for the U.S. lodging industry is challenging even in stable economic times. The factors that drive hotel demand are varied and...

The Highland Dallas Completes Renovation

DALLAS, Texas—The Highland Dallas announced the completion of its renovation, which was led by interior design firm BAMO, Inc. The redesign updated the hotel’s guestrooms, lobby,...

Access Point Financial Provides Refinancing of Four-Hotel Portfolio

ATLANTA, Georgia—Officials of Access Point Financial (APF) announced that the company has directly provided a $55 million loan to H&S Properties Development Corp. to refinance...