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Hotels: Occupancy Rate Increased Sharply Year-over-year due to Timing of Thanksgiving

Summary:
Note: Due to the timing of Thanksgiving, the occupancy rate was up sharply YoY last week, and will be down sharply YoY in the report next week.From HotelNewsNow.com: STR: US hotel results for week ending 23 NovemberThe U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 17-23 November 2019, according to data from STR.In comparison with the week of 18-24 November 2018, the industry recorded the following:• Occupancy: +17.7% to 61.2%• Average daily rate (ADR): +10.8% to US4.71• Revenue per available room (RevPAR): +30.4% to US.32STR analysts note the positive performance is due to the year-over-year comparison with the week of Thanksgiving in 2018.emphasis addedThe following graph shows the seasonal pattern for the hotel

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Note: Due to the timing of Thanksgiving, the occupancy rate was up sharply YoY last week, and will be down sharply YoY in the report next week.

From HotelNewsNow.com: STR: US hotel results for week ending 23 November
The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 17-23 November 2019, according to data from STR.

In comparison with the week of 18-24 November 2018, the industry recorded the following:

Occupancy: +17.7% to 61.2%
• Average daily rate (ADR): +10.8% to US$124.71
• Revenue per available room (RevPAR): +30.4% to US$76.32

STR analysts note the positive performance is due to the year-over-year comparison with the week of Thanksgiving in 2018.
emphasis added
The following graph shows the seasonal pattern for the hotel occupancy rate using the four week average.

Hotels: Occupancy Rate Increased Sharply Year-over-year due to Timing of ThanksgivingClick on graph for larger image.

The red line is for 2019, dash light blue is 2018 (record year), blue is the median, and black is for 2009 (the worst year probably since the Great Depression for hotels).

Occupancy has been solid in 2019, and close to-date compared to the previous 4 years.

However occupancy will be lower this year than in 2018 (the record year).

Seasonally, the 4-week average of the occupancy rate will decline into the winter.

Data Source: STR, Courtesy of HotelNewsNow.com

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