STR: U.S. hotel results for week ending 14 November
U.S. weekly hotel occupancy slipped further from previous weeks, according to the latest data from STR through 14 November.
8-14 November 2020 (percentage change from comparable week in 2019):
- Occupancy: 43.2% (-32.7%)
- Average daily rate (ADR): US$90.58 (-28.6%)
- Revenue per available room (RevPAR): US$39.11 (-52.0%)
After ranging between 48% and 50% occupancy from mid-July into the later portion of October, the last three weeks have produced levels of 44.4%, 44.1% and 43.2%.
Aggregate data for the Top 25 Markets showed lower occupancy (39.7%) but higher ADR (US$96.31) than all other markets.
Phoenix, Arizona (52.7%) was the only Top 25 Market to reach or surpass 50% occupancy.
Markets with the lowest occupancy levels for the week included Oahu Island, Hawaii (24.0%), and Chicago, Illinois (29.3%).
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.