by Calculated Risk on 9/16/2021 11:12:00 AM
Note: The year-over-year occupancy comparisons are easy, since occupancy declined sharply at the onset of the pandemic.
September 5-11, 2021 (percentage change from comparable week in 2019*):
o Occupancy: 60.0% (-13.6%)
o Average daily rate (ADR): $130.82 (-1.4%)
o Revenue per available room (RevPAR): $78.46 (-14.8%)
Despite the week-over-week dip, performance levels were solid on an absolute basis considering it was the week of Labor Day as well as Rosh Hashanah from Monday through Wednesday. Neither of those holidays were a factor in the corresponding week two years ago, thus creating steeper declines in comparison with 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).