US Hotel Industry Sees Highest Levels Since Pandemic Began
Holiday travel boosted numbers but occupancy was strongest since before crisis >>
by: Harvey Chipkin
Boosted by the Friday and Saturday of Memorial Day weekend, US weekly hotel occupancy reached its highest level since late February 2020, according to STR’s latest data through May 29, 2021. While those results were skewed because of the holiday, the 83% occupancy level on the Saturday of the holiday weekend was the country’s highest since October 2019, well before the pandemic started. Weekly average daily rate (ADR) and revenue per available room (RevPAR) were boosted to pandemic-era highs as well. For the week ending May 29, occupancy was 61.8% (down 4.2% from the same week in 2019); average daily rate was $122.06 (down 1.6%); and revenue per available room was $75.42 (down 5.7%). STR noted that while the positives around leisure demand are strong headed into the summer, the path to recovery remains a roller coaster, with a lack of business travel, both domestic and international, preventing hotels in many markets from making up more of the ground lost in 2020.
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