Hotels: Occupancy Rate Decreased Sharply Year-over-year

From HotelNewsNow.com: STR: US hotel results for week ending 7 March Reflecting concerns and cancellations around the COVID-19 outbreak, the U.S. hotel industry reported negative year-over-year results in the three key performance metrics during the week of 1-7 March 2020, according to data from STR. In comparison with the week of 3-9 March 2019, the industry recorded the following: • Occupancy: -7.3% to 61.8% • Average daily rate (ADR): -4.6% to US$126.01 • Revenue per available room (RevPAR): -11.6% to US$77.82 Performance declines were uniform across chain scales, classes and location......(read more)

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