STR: U.S. Hotel Performance for Q1 2020
Tennessee—Affected late in the first quarter by the COVID-19 pandemic, the U.S. hotel industry reported significant declines in the three key performance metrics during Q1 2020, according to data from STR.
- Occupancy: -15.9% to 51.8%
- Average daily rate (ADR): -4.0% to US$123.76
- Revenue per available room (RevPAR): -19.3% to US$64.14
The absolute occupancy level was the lowest for the industry since the time of the global financial crisis in Q1 2009. The year-over-year decline in the metric was the worst for any quarter on record.
Among the Top 25 Markets, San Francisco/San Mateo, California, experienced the steepest drop in occupancy (-24.9% to 58.2%), which resulted in the largest decline in RevPAR (-29.9% to US$146.24).
Due largely to comparison with its Super Bowl host year in 2019, Atlanta, Georgia, posted the only double-digit decrease in ADR (-13.7% to US$108.99).
Significant COVID-19 effects were visible during each week of March. STR continues to monitor the COVID-19 impact on global hotel performance. Weekly U.S. press releases, including the most recent for 5-11 Apri l, can be found here along with full analysis pieces and webinars.
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Additional Performance Data
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STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.