HENDERSONVILLE, Tenn. – Reflecting the continued impact of the COVID-19 pandemic, the U.S. hotel industry reported significant year-over-year declines in the three key performance metrics during the week of April 5 through April 11, 2020, according to data from STR.
In comparison with the week of April 7 to 13, 2019, the industry recorded the following:
- Occupancy fell from 69.8 percent to 21 percent;
- Average daily rate fell 45.6 percent to $74.18 U.S.; and
- Revenue per available room fell 83.6 percent to $15.61 U.S.
“Data worsened a bit from last week, and certain patterns were extended around occupancy,” said Jan Freitag, STR’s senior vice president of lodging insights.
“There was not much of a change from last week. As we have noted, RevPAR declines of this severity are our temporary new normal,” added Freitag. “Several weeks of data also point to occupancy in the 20 percent range to be the low point, and economy hotels holding at a higher occupancy level are the pattern right now.”