Occupancy Rate Up 5% Compared to Same Week in 2019; Record Thanksgiving Week Occupancy
by Calculated Risk on 12/02/2021 10:44:00 AM
Note: Since occupancy declined sharply at the onset of the pandemic, CoStar is comparing to 2019.
U.S. hotel performance came in higher than any other Thanksgiving week on record, according to STR‘s latest data through November 27.
November 21-27, 2021 (percentage change from comparable week in 2019*):
• Occupancy: 53.0% (+4.6%)
• Average daily rate (ADR): $128.41 (+14.3%)
• Revenue per available room (RevPAR): $68.00 (+19.6%)
*Due to the steep, pandemic-driven performance declines of 2020, STR is measuring recovery against comparable time periods from 2019.
The following graph shows the seasonal pattern for the hotel occupancy rate using the four week average.
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).
Note: Y-axis doesn’t start at zero to better show the seasonal change.
This was the first week with an increase over the same week in 2019.
The occupancy rate will now decline seasonally into the new year.
This article appeared firshere