by Calculated Risk on 8/19/2021 11:33:00 AM
Note: The year-over-year occupancy comparisons are easy, since occupancy declined sharply at the onset of the pandemic. So STR is comparing to the same week in 2019.
The occupancy rate is down 8.3% compared to the same week in 2019.
August 8-14, 2021 (percentage change from comparable week in 2019*):
o Occupancy: 65.7% (-8.4%)
o Average daily rate (ADR): $139.18 (+5.9%)
o Revenue per available room (RevPAR): $91.45 (-3.0%)
While the metrics were down week over week, comparisons with 2019 remained consistent, which is further evidence of seasonality in the data as more schools return to class and leisure demand wanes. Concern around COVID-19 cases also persists.
*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).
Note: Y-axis doesn’t start at zero to better show the seasonal change.