Hotels: Occupancy Rate Declined 24.4% Year-over-year

From HotelNewsNow.com: STR: US hotel results for week ending 14 March Showing further COVID-19 impact, the U.S. hotel industry reported negative year-over-year results in the three key performance metrics during the week of 8-14 March 2020, according to data from STR. In comparison with the week of 10-16 March 2019, the industry recorded the following: • Occupancy: -24.4% to 53.0% • Average daily rate (ADR): -10.7% to US$120.30 • Revenue per available room (RevPAR): -32.5% to US$63.74 Performance declines were uniform across chain scales, classes and location types. "To no surprise, the hurt......(read more)

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