U.S. hotel performance data for the week ending 11 July showed mostly flat occupancy and lower room rates from the previous week, according to STR.
5-11 July 2020 (percentage change from comparable week in 2019):
- Occupancy: 45.9% (-38.0%)
- Average daily rate (ADR): US$97.33 (-26.8%)
- Revenue per available room (RevPAR): US$44.67 (-54.6%)
Aggregate data for the Top 25 Markets showed lower occupancy (39.2%) and ADR (US$96.69) than all other markets.
Norfolk/Virginia Beach, Virginia, was the only one of those major markets to reach a 60% occupancy level (60.4%).
Two additional markets surpassed 50% occupancy: Detroit, Michigan (54.9%), and Atlanta, Georgia (50.1%).
Markets with the lowest occupancy levels for the week included Oahu Island, Hawaii (19.1%); Boston, Massachusetts (28.6%); and Orlando, Florida (28.9%).
Of note, in New York, New York, occupancy was 37.0%, down from 40.1% the week prior. In Seattle, Washington, occupancy was 32.4%, virtually flat from the previous week.
STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. 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.