Latest weekly report from STR shows that after reaching a low of 22.0% in the week ending 28 March 2020, US overall average hotel occupancy reached 49.9% in the week ending 8 August, vs. 74.1% in the same week in 2019.
Although growth in room nights sold has slowed, US occupancy has increased week over week for 16 of the past 17 weeks.
Also in the week ending 8 August 2020:
- US mean ADR was $100.88 vs. $134.33 in the same week in 2019.
- US mean RevPAR was $50.37 vs. $99.55 in the same week in 2019.
- In aggregate, hotels in smaller US markets outperformed those in the Top 25 markets.
Of the Top 25 markets:
- Only Norfolk/Virginia Beach VA at 66.9% exceeded 60% occupancy.
- 3 additional markets had occupancy above 50%:
- Philadelphia PA/NJ (58.5%)
- Detroit MI (52.5%)
- San Diego CA 51.1%
- Markets with lowest occupancy were:
- Oahu Island, HI (20.2%)
- Orlando, FL (29.6%)
Looks like the ongoing COVID-19 pandemic is causing travelers - especially leisure travelers - continue to avoid the largest cities and those with the largest crowds, opting instead for smaller cities and more rural locations. Orlando's loss is Virginia Beach's gain!
