Pandemic Weighs on US Hotel Performance in Week Ended Oct. 24 – STR
October 30, 2020 | S & P Global Market Intelligence
U.S. hotel performance in the week ended Oct. 24 remained impacted by the coronavirus pandemic, with revenue per available room declining 51.8% year over year to $45.83, according to STR, which tracks the hospitality industry.
Occupancy for the week fell 31.7% year over year to 48.0%, while average daily rate dropped 29.4% to finish the week at $95.49.
Of the top 25 markets, Norfolk/Virginia Beach, Va., recorded the highest occupancy at 54.1%, followed by Tampa/St. Petersburg, Fla., at 53.8%, and Phoenix at 53.6%.
Oahu Island, Hawaii, and Minneapolis/St. Paul, Minn.-Wis., were among the markets with the lowest occupancy, logging 23.4% and 33.9%, respectively.
