Aggregate data for the Top 25 Markets showed steeper declines across the metrics: occupancy (-75.1% to 19.6%), ADR (-51.7% to US$81.58) and RevPAR (-88.0% to US$16.01).
HENDERSONVILLE, TENNESSEE – Reflecting the continued impact of the COVID-19 pandemic, the U.S. hotel industry reported significant year-over-year declines in the three key performance metrics during the week of 5-11 April 2020, according to data from STR.
In comparison with the week of 7-13 April 2019, the industry recorded the following:
- Occupancy: -69.8% to 21.0%
- Average daily rate (ADR): -45.6% to US$74.18
- Revenue per available room (RevPAR): -83.6% to US$15.61
“There was not much of a change from last week. As we’ve noted, RevPAR declines of this severity are our temporary new normal,” said Jan Freitag, STR’s senior VP of lodging insights. “Several weeks of data also point to occupancy in the 20% range to be the low point, and economy hotels holding at a higher occupancy level is the pattern right now.”
Aggregate data for the Top 25 Markets showed steeper declines across the metrics: occupancy (-75.1% to 19.6%), ADR (-51.7% to US$81.58) and RevPAR (-88.0% to US$16.01).
Among those Top 25 Markets, Oahu Island, Hawaii, experienced the largest decrease in occupancy (-90.9%) and the only single-digit absolute occupancy level (7.1%). The drop in occupancy resulted in the steepest decline in RevPAR (-94.0% to US$10.26).
San Francisco/San Mateo, California, posted the largest decrease in ADR (-62.5% to US$107.42).
Of note, occupancy in New York, New York, was down 71.7% to 24.8%. In Seattle, Washington, occupancy dropped 70.9% to 20.2%. Each of those absolute occupancy levels were higher than the previous week, which is likely attributable to an influx of medical workers and first responders requiring lodging in those cities.
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales.
She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.
