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Hotel Occupancy increases compared to same week in 2009

By Anonymous

From HotelNewsNow.com: STR: NYC leads weekly occupancy rate gains

Overall, the U.S. industry?s occupancy ended the week with a 5.2-percent increase to 61.4 percent. Average daily rate dropped 1.9 percent to finish the week at US$98.30. Revenue per available room for the week was up 3.2 percent to US$60.39?the third consecutive week that RevPAR experience a year-over-year increase.

The following graph shows the occupancy rate by week since 2000, and the rolling 52 week average occupancy rate.

Click on graph for larger image in new window.

Note: the scale doesn't start at zero to better show the change.

The graph shows the distinct seasonal pattern for the occupancy rate; higher in the summer because of leisure/vacation travel, and lower on certain holidays.

Although the occupancy rate is up 5.2% over the same week last year, the level is still well below normal - the average occupancy rate for this week is close to 65%, significantly above the current 61.4%.

The low than normal occupancy rate is still pushing down room rates (on a YoY basis) although revenue per available room (RevPAR) increased for the third straight week.

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

Full post as published by Calculated Risk on March 25, 2010 (boomark / email).