STR: U.S. hotel results for week ending 31 October

HENDERSONVILLE, Tennessee—U.S. weekly hotel occupancy was the lowest for any week since late June, according to the latest data from STR through 31 October.

25-31 October 2020 (percentage change from comparable week in 2019):

• Occupancy: 44.4% (-29.0%)
• Average daily rate (ADR): US$91.56 (-27.4%)
• Revenue per available room (RevPAR): US$40.70 (-48.4%)

With rising COVID-19 case numbers and less leisure travel, the U.S. saw a second consecutive week with fewer hotel guests. During October 25-31, room demand fell 1.3 million from the prior week, leading to the country’s lowest occupancy level (44.4%) since the week of June 14-20.

Aggregate data for the Top 25 Markets showed lower occupancy (41.0%) but higher ADR (US$96.91) than all other markets.

Only two of those major markets reached or surpassed 50% occupancy: Atlanta, Georgia (53.0%), and New Orleans, Louisiana (52.9%).

Norfolk/Virginia Beach, Virginia, dropped below the 50% occupancy level for the first week since 31 May through 6 June 2020.

Markets with the lowest occupancy levels for the week included Oahu Island, Hawaii (23.8%), and Minneapolis/St. Paul, Minnesota-Wisconsin (30.7%).

Additional Performance Data
STR’s world-leading hotel performance sample comprises 68,000 properties and 9.1 million rooms around the globe. Members of the media should refer to the contacts listed below for additional data requests.

About STR
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.

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