March 12. U.S. weekly hotel occupancy reached a 20-week high during the week of Feb. 28-March 6, according to STR‘s latest data.
During the week, hotel occupancy reached 49 percent, down 20.5 percent from comparable week in 2020 but up from 47.5 percent for the last week in February and 48.1 percent the week before. That level was led by small and medium hotels with fewer than 300 rooms, with most markets reporting week-over-week growth. Room demand, the number of rooms sold, topped 18 million for the first time since October.
Average daily rate was $98.30, up 1.4 percent week over week but down 21.9 percent year over year, while revenue per available room was $48.13, down 37.9 percent.
While demand has improved in many states, most markets remain deep in recessionary territory when indexed to 2019 levels. Year-over-year comparisons with 2020 are beginning to turn favorable as the country hits the one-year anniversary of its earliest pandemic restrictions.
Source: Hotel Management
Photo: Visit the USA