US Weekly Hotel Occupancy Hits 50%
October 16, 2020
U.S. hotel occupancy in the week ended October 10 reached 50% for just the second time since the low point of the coronavirus pandemic, according to the latest weekly data from STR, which tracks the hospitality industry.
Year over year, revenue per available room declined 47.5% to $48.85, while occupancy fell 29.2% to finish the week at 50.0%. The average daily rate dropped 25.9% to $97.67.
Of the top 25 markets, occupancy in Norfolk/Virginia Beach, VA., hit 54.7%, followed by Houston and San Diego at 54.4% and 54.2%, respectively.
Markets with the lowest occupancy levels included Oahu Island, Hawaii, at 19.3%; and Orlando, FL, at 33.7%.
Sources: STR, S&P Global Market IntelligenceGo Back
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