Reprinted from HospitalityNet
The Gap Narrows Between The Latest Weekly Metrics and 2019 Levels
Weekly U.S. hotel performance trended upward for a second straight week, defying expectations of a seasonal slowdown compounded by an increase in COVID-19 hospitalizations, and pointing to better-than-expected business demand.
The gap between the latest weekly data and the comparable week in 2019 also narrowed slightly in some key performance metrics.
According to data from STR, CoStar’s hospitality analytics firm, U.S. hotel industry revenue per available room, on a total-room-inventory basis that accounts for temporarily closed hotels, for the week ending Sept. 25 was 84.8% of what it was during the comparable week in 2019. That index increased by one point from the previous week, meaning it was 1% closer to the 2019 level. The week-over-week gain was evenly split between occupancy and average daily rate, with 2019 indexes for both growing by about half of a percentage point.
For the 16th consecutive week, total-room-inventory RevPAR remained in the “recovery” category, which STR’s “Market Recovery Monitor” defines as indexing above 80 but below 100 compared to the same week in 2019.
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