To read this full article you need to be subscribed to Newsline.
Sign in Sign up for a FREE subscriptionU.S. hotel sector drops to 33.5% occupancy
Due to the COVID-19 pandemic, the U.S. hotel industry reported its worst quarter on record during the second quarter 2020, according to data from STR.
In a year-over-year comparison with the second quarter 2019, the industry posted the following:
Occupancy: –52.1 percent to 33.5 percent Average daily rate (ADR): –37.1 percent to $83.59 Revenue per available room (RevPAR): –69.9 percent to $27.98The absolute occupancy and RevPAR levels were the lowest for any quarter in STR’s U.S. database. The year-over-year declines in each of the three key performance metrics were the worst for any quarter on record.
Among the Top 25 Markets, Oahu Island, Hawaii, experienced the steepest drop in occupancy (–86.2 percent to 11.5 percent), which resulted in the largest decline in RevPAR (–91.2 percent to $17.08).
Boston posted the largest decrease in ADR (–56.9 percent to $95.85).
