US Hotel Occupancy in Week Ended August 22 Drops to 3-Week Low Amid Pandemic
August 28, 2020 | Sylvia Cycil | S&P Global Market Intelligence
U.S. hotels logged notable year-over-year declines in three key metrics for the week ended August 22 amid the coronavirus pandemic, with occupancy dropping to a three-week low during the week, according to STR, which tracks the hospitality industry.
Year over year, occupancy fell 30.3%, to 48.8%, and revenue per available room declined 46.1% to finish the week at $48.81. Average daily rate dropped 22.7% to $100.08.
Among the top 25 markets, occupancy in Norfolk/Virginia Beach, Va., reached 61.2%, followed by San Diego at 54.1% and Los Angeles/Long Beach, Calif., at 54.0%.
Markets with the lowest occupancy levels included Oahu Island, Hawaii, at 26.5%; and Orlando, Fla., at 29.3%.
