Stay updated with breaking news from Break Report. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
U.S. hotel industry occupancy increased 0.9 percentage points (ppts) week over week to 68.5% but was down 1.6ppts versus last year. The year over year softness was somewhat surprising given the week had the most schools out of session for fall break, according to STR’s School Break Report, and it included the Columbus/Indigenous Peoples’ Day holiday.
Article - Weekly Global Hotel Performance Trends from STR: 8-14 October 2023 - Global occupancy, excluding the U.S, fell slightly WoW (-0.6ppts) to 68.9%. The decrease was in line with seasonal trends as calendar shifts impact global occupancy week over week, particularly in the last months of the year. However, global occupancy continued to grow versus last year, up 6.1ppts.
Heading into the final days of August, U.S. hotel occupancy (65%) was lower for a fifth consecutive week, which is in line with normal seasonal patterns. The measure was up 0.3 percentage points (ppts) from a year ago but 4.9ppts lower than the 2019 comparable—similar to the previous four weeks. Occupancy is still expected to trend down for the next two weeks and then grow as group/conference travel climbs to its annual peak.
Article - Weekly Global Hotel Performance Trends from STR: 20-26 August 2023 - Global occupancy (excluding the U.S.) softened for the second consecutive week to 71.3% as the measure fell 1.1ppts week over week. However, global occupancy continued to see year-over-year growth (+5.5ppts). ADR increased 12% to US$149, resulting in a 21.3% gain in RevPAR to US$106.
As expected since the end of July, demand is trending down, but the week-on-week (WoW) decrease for 21-27 August 2022 continued to be less than what was observed in previous years. More importantly, this was the highest demand ever recorded for this specific week dating back to 2000. Weekly demand was equal to 2019, but that level was easier to meet because that was the week ahead of the Labor Day holiday that year.