Hotels: Occupancy Rate Down 8% Compared to Same Week in 2019

https://ift.tt/8eRW9cB

From CoStar: STR: Presidents’ Day Weekend Buoys US Hotel Performance

Helped by Presidents’ Day weekend, U.S. hotel performance increased from the previous week and showed improvement against 2019 comparables, according to STR‘s latest data through Feb. 19.

Feb. 13-19, 2022 (percentage change from comparable week in 2019*):

• Occupancy: 59.1% (-8.4%)
• Average daily rate (ADR): $140.11 (+8.4%)
• Revenue per available room (RevPAR): $82.87 (-0.8%)

*Due to the pandemic impact, STR is measuring recovery against comparable time periods from 2019.
emphasis added

The following graph shows the seasonal pattern for the hotel occupancy rate using the four-week average.

Click on graph for larger image.

The red line is for 2022, black is 2020, blue is the median, and dashed light blue is for 2021.

The 4-week average of the occupancy rate is below the median rate for the previous 20 years (Blue).

Note: Y-axis doesn’t start at zero to better show the seasonal change.

The 4-week average of the occupancy rate will increase seasonally over the next few months.

Financial Services

Hotels: Occupancy Rate Down 8% Compared to Same Week in 2019

Get In Touch