Along Calculated risk of December 31, 2020 09:57:00 AM
This is the end of the worst year of hotel occupancy. The average weekly occupancy rate is 44.2%, well below last year’s worst of 55.0% in 2009. The average annual occupancy rate is about 63%.
From HotelNewsNow.com: STR: Results for Weekly US Hotels Ending December 26
Weekly hotel occupancy rates in the United States have fallen to their lowest levels since early May, according to the latest STR data for Christmas Week.
December 20-26, 2020 (rate of change from the same week in 2019):
•• Occupancy rate: 32.5% (-33.0%)
• Average Daily Fee (ADR): US $ 92.08 (-28.8%)
• Revenue per available room (RevPAR): US $ 29.94 (-52.3%)
The following graph shows the seasonal pattern of hotel occupancy rates using. 4 weeks average..
The red line is 2020, the light blue dashed line is 2019, the blue is the median, and the black is 2009 (the worst year since the Great Depression of the hotel-before 2020).
Seasonally, occupancy rates are expected to decline at the beginning of the year, and business trips usually begin to increase during the New Year holidays.
Note: The Y-axis does not start from zero to clearly show seasonal changes.
Due to the seasonal pattern of utilization (see graph above), you can track year-over-year changes in utilization to look for improvements. This table shows year-over-year changes since the week ending September 19, 2020.
This suggests that there has been no improvement over the last few months.
|weekend||Year-on-year, occupancy rate|
Occupancy rate fell 33.0% year-on-year, 2020 is the worst year ever
http://feedproxy.google.com/~r/CalculatedRisk/~3/fi6xA7WhNZY/hotels-occupancy-rate-declined-330-year.html Occupancy rate fell 33.0% year-on-year, 2020 is the worst year ever