by Calculated Risk on 10/21/2021 02:05:00 PM
Note: Since occupancy declined sharply at the onset of the pandemic, CoStar is comparing to 2019.
October 10-16, 2021 (percentage change from comparable week in 2019*):
o Occupancy: 65.0% (-10%)
o verage daily rate (ADR): $134.03 (-1.4%)
o Revenue per available room (RevPAR): $87.15 (-11.3%)
Week-over-week demand growth came almost exclusively from the Sunday ahead of Columbus Day. Overall for the three-day holiday weekend (8-10 October), occupancy reached 72% as compared with 75% in 2019.
*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).