US hotel RevPAR sinks 60.3% YOY in week ended June 20 amid pandemic – STR
June 25, 2020 | Sylvia Cycil | SNL
U.S. hotel performance for the week ended June 20 showed small gains compared to recent weeks amid the coronavirus pandemic, which has continued to severely impact the industry for several months, according to the latest weekly data from STR, which tracks the hospitality sector.
Year over year, revenue per available room (RevPAR) declined 60.3% to $40.48, and average daily rate dropped 31.7% to finish the week at $92.20. Occupancy for the week fell 41.8%, to 43.9%.
“Demand continues to be pushed upward by drive-to spots and the destinations with outdoor offerings such as beaches,” Jan Freitag, STR’s senior vice president of lodging insights, said in a release.
Among the top 25 markets, Norfolk/Virginia Beach, Va., was the only one to reach a 50% occupancy level, achieving 54.0%, followed by Tampa/St. Petersburg, Fla., at 49.4% and Phoenix at 48.3%.
Markets that recorded the week’s lowest occupancy levels were Oahu Island, Hawaii, at 13.7%; Boston at 26.1%, and Orlando, Fla., at 28.2%.
Source: SNL
