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Hotel Occupancy Rate Falls to 51.6%

By Anonymous

Note: some of the decline in occupancy rate is seasonal, and the rate should increase during the Summer months - especially since leisure travel has not declined as much as business travel and Summer has a higher mix of vacation travel (see: Hotels: "By the numbers" )

From HotelNewsNow.com: STR reports US performance for week ending 30 May 2009

In year-over-year measurements, the industry?s occupancy fell 10.2 percent to end the week at 51.6 percent. Average daily rate dropped 9.6 percent to finish the week at US$93.00. Revenue per available room [RevPAR] for the week decreased 18.9 percent to finish at US$47.96.

Click on graph for larger image in new window.

This graph shows the YoY change in the occupancy rate (3 week trailing average).

The three week average is off 11.4% from the same period in 2008.

The average daily rate is down 9.6%, so RevPAR is off 18.9% from the same week last year.

Data Source: Smith Travel Research, Courtesy of HotelNewsNow.com

Full post as published by Calculated Risk on June 04, 2009 (boomark / email).