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Hotels: Occupancy Rate Down 10% Compared to Same Week in 2019

Summary:
Note: The year-over-year occupancy comparisons are easy, since occupancy declined sharply at the onset of the pandemic.  So STR is comparing to the same week in 2019.The occupancy rate is down 10.3% compared to the same week in 2019. Leisure (weekend) occupancy has recovered, but weekday (more business) is still down double digits.From CoStar: STR: US Hotel Occupancy at Highest Weekly Level Since November 2019U.S. hotel occupancy reached its highest weekly level since early November 2019, according to STR‘s latest data through June 12.June 6-12, 2021 (percentage change from comparable week in 2019*):• Occupancy: 66.0% (-10.3%)• Average daily rate (ADR): US5.16 (-7.0%)• Revenue per available room (RevPAR): US.65 (-16.6%) While weekday occupancy was still down double digits from the

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Note: The year-over-year occupancy comparisons are easy, since occupancy declined sharply at the onset of the pandemic.  So STR is comparing to the same week in 2019.

The occupancy rate is down 10.3% compared to the same week in 2019. Leisure (weekend) occupancy has recovered, but weekday (more business) is still down double digits.

U.S. hotel occupancy reached its highest weekly level since early November 2019, according to STR‘s latest data through June 12.

June 6-12, 2021 (percentage change from comparable week in 2019*):

Occupancy: 66.0% (-10.3%)
• Average daily rate (ADR): US$125.16 (-7.0%)
• Revenue per available room (RevPAR): US$82.65 (-16.6%)

While weekday occupancy was still down double digits from the corresponding days in 2019, weekend occupancy was 0.2% (Friday) and 3.2% (Saturday) higher than the 2019 comparables. On a total-room-inventory basis, which includes those hotels temporarily closed due to the pandemic, total week occupancy was higher than 60% for the first time since the beginning of the pandemic. ADR and RevPAR were also the highest of the pandemic era on an absolute basis.
emphasis added
The following graph shows the seasonal pattern for the hotel occupancy rate using the four week average.

Hotels: Occupancy Rate Down 10% Compared to Same Week in 2019Click on graph for larger image.

The red line is for 2021, black is 2020, blue is the median, dashed purple is 2019, and dashed light blue is for 2009 (the worst year on record for hotels prior to 2020).

Occupancy is now above the horrible 2009 levels and weekend occupancy (leisure) has been solid.

Note: Y-axis doesn't start at zero to better show the seasonal change.

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