STR: US hotel results for week ending 30 May
 
STR: US hotel results for week ending 30 May
03 JUNE 2020 1:16 PM

U.S. hotel occupancy fell 43.2% to 36.6% during the week of 24-30 May as ADR declined 33.3% to $82.94 and RevPAR dropped 62.1% to $30.34.

HENDERSONVILLE, Tennessee—STR data ending with 30 May showed another small rise from previous weeks in U.S. hotel performance. Year-over-year declines remained significant although not as severe as the levels recorded previously.

24-30 May 2020 (percentage change from comparable week in 2019):

• Occupancy: 36.6% (-43.2%)
• Average daily rate (ADR): US$82.94 (-33.3%)
• Revenue per available room (RevPAR): US$30.34 (-62.1%)

*Previous weekly U.S. weekly occupancy levels:

• 17-23 May 2020: 35.4%
• 10-16 May 2020: 32.4%
• 3-9 May 2020: 30.4%
• 26 April - 2 May 2020: 28.9%
• 19-25 April 2020: 26.2%
• 12-18 April 2020: 24.4%
• 5-11 April 2020: 22.0%

“A seventh consecutive week of higher demand and occupancy was highlighted by three submarkets actually showing positive year-over-year occupancy comparisons for the weekend,” said Jan Freitag, STR’s senior VP of lodging insights. “Two of those areas, Titusville/Cocoa Beach and Melbourne/Palm Bay, likely received a boosted from the SpaceX launch activities on Saturday. The third submarket, Corpus Christi, further supports previous analysis that there is demand ready to return, but for now, it is more visible from leisure sources and in destinations that are set up well for drive-to business.

“Because the situation intensified more toward the end of the week, and because there has not been a great deal of demand in downtown areas because of the pandemic, there wasn’t a noticeable impact from protests and the unrest occurring in major cities. That is something to monitor in our next dataset and perhaps beyond depending on how the situation plays out.”

Aggregate data for the Top 25 Markets showed larger year-over-year declines than the national averages: occupancy (-51.1% to 33.9%), ADR (-41.5% to US$86.82) and RevPAR (-71.4% to US$29.48).

Six of the Top 25 Markets saw occupancy levels above 40%: New York, New York (47.6%); Norfolk/Virginia Beach, Virginia (44.2%); Tampa/St. Petersburg, Florida (44.0%); Phoenix, Arizona (42.5%); Atlanta, Georgia (40.7%); and Detroit, Michigan (40.4%).

Markets with the lowest occupancy levels for the week included Oahu Island, Hawaii (12.5%); Boston, Massachusetts (22.6%); and Orlando, Florida (24.5%).

Of note, in Seattle, Washington, occupancy was 28.1%, up slightly from 27.6% the week prior.

Download STR's weekly U.S. hotel review here.

*Data updated 3 June 2020

Additional Performance Data
STR’s world-leading hotel performance sample comprises 68,000 properties and 9.1 million rooms around the globe. Members of the media should refer to the contacts listed below for additional data requests.

About STR
STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.

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