Among the Top 25 Markets, Oahu Island, Hawaii, reported the lowest October occupancy level (22.0%), which represented a 73.5% decline in year-over-year comparisons. The market showed the highest ADR ($157.71), however, which was down 30.9%.

The U.S. hotel industry showed slightly lower performance from the month prior, according to October 2020 data from STR.

October 2020 (percentage change from October 2019):

• Occupancy: 48.3% (-30.1%)
• Average daily rate (ADR): US$97.61 (-26.8%)
• Revenue per available room (RevPAR): US$47.13 (-48.8%)

Occupancy remained flat from the previous month, while the ADR and RevPAR levels came in lower than September. More recently, November weekly data showed that occupancy reached its lowest level since the week of June 14-20.

Among the Top 25 Markets, Oahu Island, Hawaii, reported the lowest October occupancy level (22.0%), which represented a 73.5% decline in year-over-year comparisons. The market showed the highest ADR ($157.71), however, which was down 30.9%.

Norfolk/Virginia Beach, Virginia, reported the highest occupancy level (53.2%), which was down 16.7% year over year. The next highest occupancy levels were seen in Phoenix, Arizona (51.9%), and Atlanta, Georgia (51.4%).

In addition to Oahu Island, 10 other markets posted ADR above US$100.

Overall, the Top 25 Markets showed lower occupancy but higher ADR than all other markets.

STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.

Logos, product and company names mentioned are the property of their respective owners.

© 2020 Hotel News Resource



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