Hotels: Occupancy Rate Increased Year-over-Year | Risk Management
From HotelNewsNow.com: STR: US hotel results for week ending 4 August
The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 29 July through 4 August 2018, according to data from STR.
In comparison with the week of 30 July through 5 August 2017, the industry recorded the following:
• Occupancy: +1.0% to 75.3%
• Average daily rate (ADR): +3.1% to US$132.88
• Revenue per available room (RevPAR): +4.1% to US$100.07
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 2018, dash light blue is 2017 (record year due to hurricanes), blue is the median, and black is for 2009 (the worst year probably since the Great Depression for hotels).
The occupancy rate, to date, is close to the record year in 2017. Note: 2017 finished strong due to the impact of the hurricanes.
On a seasonal basis, the 4-week average of the occupancy rate is now at the peak of the summer travel season.
Data Source: STR, Courtesy of HotelNewsNow.com