Occupancy Rate UP 3.1% Compared to Same Week in 2019


by Calculated Risk on 9/11/2022 08:11:00 AM

Note: This is the first week, since the onset of the pandemic, with the occupancy higher than the comparable week in 2019.

U.S. hotel performance dipped from the previous week but continued to improve in comparison with 2019, according to STR‘s latest data through Sept. 3.

Aug. 28 through Sept. 3, 2022 (percentage change from comparable week in 2019*):

Occupancy: 62.8% (+3.1%)
• Average daily rate (ADR): $147.14 (+20.9%)
• Revenue per available room (RevPAR): $92.45 (+24.6%)

*Due to the pandemic impact, STR is measuring recovery against comparable time periods from 2019.
emphasis added

The following graph shows the seasonal pattern for the hotel occupancy rate using the four-week average.

Click on graph for larger image.

The red line is for 2022, black is 2020, blue is the median, and dashed light blue is for 2021.  Dashed purple is 2019 (STR is comparing to a strong year for hotels).

The 4-week average of the occupancy rate is above the median rate for the previous 20 years (Blue).

Note: Y-axis doesn’t start at zero to better show the seasonal change.

The 4-week average of the occupancy rate will increase during the Fall business travel period, and then decline in to the Winter.


Image and article originally from www.calculatedriskblog.com. Read the original article here.