Finance & DevelopmentFinanceU.S. Hotel Occupancy Falls to Three-Week Low

U.S. Hotel Occupancy Falls to Three-Week Low

HENDERSONVILLE, Tenn. — U.S. hotel occupancy fell to a three-week low during the week of August 16-22, 2020, according to the latest data from STR.

U.S. Hotel Industry KPIs

Aug. 16-22, 2020 vs. Aug. 18-24, 2019

 

Occupancy: 48.8% (-30.3%)
ADR: $100.08 (-22.7%)
RevPAR: $48.81 (-46.1%)

Compared to August 18-24, 2019, occupancy for the third week of August 2020 fell 30.3 percent to 48.8 percent—down from 50.2 percent the week prior, which was the first time the industry had reached 50 percent occupancy since mid-March. Average daily rate (ADR) dropped 22.7 percent year over year (YOY) to $100.08 and revenue per available room (RevPAR) fell 46.1 percent YOY to $48.81.

Lower occupancy came as U.S. room demand declined week over week for the first time since mid-April. Reflective of school openings and less vacation travel, the industry sold 492,000 fewer room nights than the previous week, which represented a decrease of 2.7 percent. STR projects similar challenges with no corporate demand to replace leisure demand lost to the beginning of the school year.

STR U.S. Hotel Occupancy leading up to August 16-22, 2020

Aggregate data for the Top 25 Markets during the week of August 16-22 showed lower occupancy (41.8 percent) and ADR ($99.11) than all other markets.

Norfolk/Virginia Beach, Virginia, was the only one of those major markets to reach a 60 percent occupancy level (61.2 percent). Three additional markets reached or surpassed 50 percent occupancy: San Diego, California (54.1 percent); Los Angeles/Long Beach, California (54 percent); and Detroit, Michigan (50.3 percent).

Markets with the lowest occupancy levels for the week included Oahu Island, Hawaii (26.5 percent), and Orlando, Florida (29.3 percent).

 


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