Hotels: Occupancy Rate Declined 56% Year-over-year to All Time Record Low

From HotelNewsNow.com: STR: US hotel results for week ending 21 March Showing further effects of the COVID-19 pandemic, the U.S. hotel industry reported significant year-over-year declines in the three key performance metrics during the week of 15-21 March 2020, according to data from STR. In comparison with the week of 17-23 March 2019, the industry recorded the following: • Occupancy: -56.4% to 30.3% • Average daily rate (ADR): -30.2% to US$93.41 • Revenue per available room (RevPAR): -69.5% to US$28.32 "RevPAR decreases are at unprecedented levels-worse than those seen during 9/11 and the......(read more)

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