STR: U.S. hotel results for week ending 28 November
U.S. weekly hotel occupancy fell to its lowest level since late May, according to the latest data from STR through 28 November.
22-28 November 2020 (percentage change from comparable week in 2019):
- Occupancy: 36.2% (-28.5%)
- Average daily rate (ADR): US$92.49 (-17.8%)
- Revenue per available room (RevPAR): US$33.49 (-41.2%)
TSA checkpoint counts increased sharply with more than 6 million passengers during both the week before and of Thanksgiving. However, that increased air travel volume did not translate to more hotel rooms sold as weekly demand (13.2 million) and occupancy fell to their lowest levels since late May. This would indicate that a bulk of travelers opted to stay with family during the holiday.
Among all markets in the country, the Florida Keys recorded the week's highest occupancy level (77.8%) followed by Knoxville, Tennessee (61.8%); McAllen/Brownsville, Texas (54.5%); and Daytona Beach, Florida (53.2%).
Among the Top 25 Markets, Tampa/St. Petersburg, Florida (49.7%) saw the highest occupancy level.
Top 25 Markets with the lowest occupancy levels for the week included Minneapolis/St. Paul, Minnesota-Wisconsin (22.0%) and Oahu Island, Hawaii (22.7%).
Aggregate data for the Top 25 Markets showed lower occupancy (34.9%) but higher ADR (US$95.69) than all other markets.
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.