Hotels: Occupancy Rate Declined 27.7% Year-over-year

From HotelNewsNow.com: STR: US hotel results for week ending 29 August U.S. hotel occupancy decreased slightly for the second consecutive week, according to the latest data from STR. 23-29 August 2020 (percentage change from comparable week in 2019): • Occupancy: 48.2% (-27.7%) • Average daily rate (ADR): US$98.39 (-23.2%) • Revenue per available room (RevPAR): US$47.38 (-44.5%) The industry sold 237,000 fewer room nights than the previous week, which represented a demand decrease of 1.3%. Week-over-week demand improvements were a constant since mid-April, but as summer ends and leisure......(read more)

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