STR: U.S. hotel results for week ending 3 October
U.S. hotel occupancy decreased slightly from the previous week, according to the latest data from STR through 3 October.
27 September through 3 October 2020 (percentage change from comparable week in 2019):
- Occupancy: 47.9% (-29.6%)
- Average daily rate (ADR): US$95.63 (-26.3%)
- Revenue per available room (RevPAR): US$45.80 (-48.1%)
Year-over-year declines were less pronounced compared with previous weeks due to the Rosh Hashanah impact on the hotel calendar in 2019. Most of the markets with the highest occupancy levels were once again those in areas with displaced residents from natural disasters. Amid continued wildfires, California South/Central saw the highest occupancy level at 78.4%. In the aftermath of Hurricane Sally, Mobile, Alabama, reported the next highest occupancy level (73.6%).
Aggregate data for the Top 25 Markets showed lower occupancy (42.1%) but higher ADR (US$99.06) than all other markets.
Three of those major markets reached or surpassed 50% occupancy: Norfolk/Virginia Beach, Virginia (52.5%); San Diego, California (52.1%); and Los Angeles/Long Beach, California (51.6%).
Markets with the lowest occupancy levels for the week included Oahu Island, Hawaii (19.0%), and Orlando, Florida (30.8%).
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.