U.S. Hotel Occupancy at 48.3 Percent for September

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U.S. Hotel Occupancy at 48.3 Percent for September

In September, U.S. hotel occupancy dipped 28.2% to 48.3%, ADR decreased 24.9% to $99.12 and RevPAR dropped 46.1% to $47.87.

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

September 2020 (percentage change from September 2019):

• Occupancy: 48.3% (-28.2%)
• Average daily rate (ADR): US$99.12 (-24.9%)
• Revenue per available room (RevPAR): US$47.87 (-46.1%)

Each of the three key performance indicators came in lower than August. The absolute levels recorded in August were the highest for any month since April. More recently, October weekly data showed that occupancy reached 50% for just the second time since the industry’s low point.

Among the Top 25 Markets, Oahu Island, Hawaii, reported the lowest September occupancy level (21.3%), which represented a 74.9% decline in year-over-year comparisons. The market showed the highest ADR ($152.47), however, which was down 32.6%.

Norfolk/Virginia Beach, Virginia, reported the highest occupancy level (56.8%), which was down 10.7% year over year. San Diego, California (54.0%), and Los Angeles/Long Beach, California (53.8%), were the only other Top 25 Markets with occupancy above 50%.

In addition to Oahu Island, eight 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.