STR: US Hotel Performance For August 2020
U.S. hotel occupancy fell 31.7% to 48.6% in August, ADR decreased 22.8% to $102.46 and RevPAR dropped 47.3% to $49.83.
HENDERSONVILLE, Tennessee - The U.S. hotel industry showed slightly higher performance from the month prior, but at overall low levels during August 2020, according to data from STR.
In a year-over-year comparison with August 2019, the industry recorded the following:
- Occupancy: -31.7% to 48.6%
- Average daily rate (ADR): -22.8% to US$102.46
- Revenue per available room (RevPAR): -47.3% to US$49.83
The absolute occupancy level was the lowest for any August on record in the U.S., but all three key performance metrics were up from July levels. Recent September weekly data shows occupancy just below 50% due to a slight decrease in demand.
Among the Top 25 Markets, Oahu Island, Hawaii, experienced the steepest drop in occupancy (-69.9% to 26.8%) and the largest decrease in RevPAR (-81.4% to US$42.13).
San Francisco/San Mateo, California, posted the steepest decline in ADR (-50.1% to US$123.23).
All of STR's COVID-19 analysis can be found here.
About STR
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.
Haley Luther
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