The top 25 US hotel markets, which have a disproportionate share of corporate travel, reflected a steeper revenue per available room (RevPAR) decline in the last 12 months than for the US overall, according to STR. Even though a RevPAR decline of around 80% for the country was overwhelming, the situation in larger markets “was even more dire,” said STR. The “devastating” performance, said STR, was driven by “the complete evaporation” of group demand. Citywide conventions and corporate meetings were postponed to later in the year, moved online to meeting platforms or canceled outright. In April, RevPAR for transient business was down 82.4% overall and 95.2% in the top 25 markets while the numbers for group business were 82.3% and 94%, respectively. In April, three markets (Denver, St. Louis and Nashville) reported 0% group occupancy. While May results show signs of a recovery, said STR, the expectation is that the larger markets will continue to lag overall US performance until business travel resumes.