Early last March, the U.S. hotel industry was experiencing some of its last positive results in three key performance metrics before feeling the impact of the COVID-19 pandemic—occupancy, average daily rate (ADR) and revenue per available room (RevPAR). But a glimpse of hope for the industry came from STR’s latest report, revealing that the U.S. weekly hotel occupancy has reached its highest level in a year (-1.4% to 52.1%). ADR and RevPAR also saw improvements, down only 14.5% to US$102.62 and 15.8% to US$53.45, respectively. Year-over-year percentage changes are now more favorable as comparisons have shifted to pandemic-affected weeks from 2020. (STR, 03.18.21)
While hotel performance is improving, the travel industry as a whole won’t see pre-pandemic travel norms for quite some team. H2R’s custom research can help you achieve your goals. Schedule a free consultation today.
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