Article Summary: U.S. hotel occupancy declined 52.1% to 33.5% in the second quarter of 2020. ADR decreased 37.1% year over year to $83.59 and RevPAR fell 69.9% to $27.98.
U.S. hotel occupancy declined 52.1% to 33.5% in the second quarter of 2020. ADR decreased 37.1% year over year to $83.59 and RevPAR fell 69.9% to $27.98.
Primary Category: Other Reports
HENDERSONVILLE, Tennessee—Due to the COVID-19 pandemic, the U.S. hotel industry reported its worst quarter on record during Q2 2020, according to data from STR.
In a year-over-year comparison with Q2 2019, the industry posted the following:
• Occupancy: -52.1% to 33.5%
• Average daily rate (ADR): -37.1% to US$83.59
• Revenue per available room (RevPAR): -69.9% to US$27.98
The absolute occupancy and RevPAR levels were the lowest for any quarter in STR’s U.S. database. The year-over-year declines in the each of the three key performance metrics were the worst for any quarter on record.
Among the Top 25 Markets, Oahu Island, Hawaii, experienced the steepest drop in occupancy (-86.2% to 11.5%), which resulted in the largest decline in RevPAR (-91.2% to US$17.08).
Boston, Massachusetts, posted the largest decrease in ADR (-56.9% to US$95.85).
STR continues to monitor the COVID-19 impact on global hotel performance. Weekly U.S. press releases, including the most recent for 5-11 July, can be found here along with full analysis pieces and webinars.
A note to editors: All references to STR data and analysis should cite “STR” as the source. Please refrain from citing “STR, Inc.” “Smith Travel Research” or “STR Global” in sourcing.
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.
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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Headline: STR: US hotel performance for Q2 2020
Article Date: 7/22/2020
Article Time: 10:29:00 AM