U.S. Hotel Occupancy and RevPAR Down YOY
October 9, 2020 | S&P Global Market Intelligence
Hotel occupancy in the U.S. dropped slightly in the week ended Oct. 3 compared to the prior week, but the overall performance remains significantly impacted due to the coronavirus pandemic, according to the latest weekly data from STR, which tracks the hospitality industry.
Year over year, revenue per available room declined 48.1% to $45.80, while occupancy slid 29.6% to finish the week at 47.9%. The average daily rate was down 26.3% to $95.63.
STR noted that the decreases were less pronounced compared with previous weeks due to the Rosh Hashanah impact on the hotel calendar in 2019.
Of the top 25 markets, Norfolk/Virginia Beach, Va., experienced the largest occupancy gain, reaching 52.5%, followed by San Diego and Los Angeles/Long Beach, Calif., at 52.1% and 51.6%, respectively.
Oahu Island, Hawaii, and Orlando, Fla., were among the markets with the lowest occupancy levels, at 19.0% and 30.8%, respectively.
