Hotels: Hotel Occupancy down Year-over-Year
From HotelNewsNow.com: STR: US hotel results for week ending 10 June
The U.S. hotel industry reported mixed year-over-year results in the three key performance metrics during the week of 4-10 June 2017, according to data from STR.The following graph shows the seasonal pattern for the hotel occupancy rate using the four week average.
In comparison with the week of 5-11 June 2016, the industry recorded the following:
• Occupancy: -0.8% to 73.0%
• Average daily rate (ADR): +1.5% to US$128.37
• Revenue per available room (RevPAR): +0.7% to US$93.73
The red line is for 2017, dashed is 2015 (best year on record), blue is the median, and black is for 2009 (the worst year since the Great Depression for hotels).
Currently the occupancy rate is tracking close to last year, and just behind the record year in 2015.
For hotels, occupancy will increase further during the summer travel season.
Data Source: STR, Courtesy of HotelNewsNow.com