Latest data shows US hotel bookings on the rise

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Latest hotel reservation data from STR (Smith Travel Research) reveals that, for the first time in many weeks since the COVID-19 pandemic took hold, U.S. hoteliers have sold more than ten million room nights during the week ending May 9. 2020.

STR Senior Vice President of Lodging Insights Jan Freitag said Hotel news now that these figures show an increase of more than three million overnight stays during the week of April 11. While signs of recovery may come slowly, Freitag says it’s a good thing.

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The hotel occupancy rate in the United States reached 30.1% for the weekend of May 9, which was what he called a “very healthy” increase in the occupancy rate on the weekends. end for the second consecutive week.

Freitag pointed out that Daytona Beach and the Florida Panhandle area, with beach access, are the submarkets with the largest difference in weekday and weekend occupancy rates in the United States.

Revenue per Available Room (RevPAR) at hotels in resort destinations was still down 82.4% from the same week in 2019. “It is certainly not the time for vacation destinations just yet.” Freitag said.

For the week in question, total US RevPAR rates had fallen 74.4% year-on-year, which, while still a staggering loss, is called “less bad” than what we have seen in the previous weeks.

Daytona Beach, Florida, USA resort skyline.  (photo via SeanPavonePhoto / Stock / Getty Images Plus)
PHOTO: Daytona Beach, Florida resort skyline. (Photo via SeanPavonePhoto / iStock / Getty Images Plus)

The top 25 markets in the United States

Among large-scale markets, those at the high end are not seeing quite the same level of rebound as those at the low end. Freitag said STR sees “very large percentage changes in RevPAR of around 88%” among higher-end hotels.

In contrast, low-end and budget hotels saw a 45% drop in RevPAR, while mid-range occupancy saw RevPAR rates down 60% for the week. among the cheapest properties.

“In other words, the occupancy rate for the week ending May 9 for luxury hotels was less than 17%, but for budget hotels it was over 40%,” he said. “We expect this model to continue.”

Other promising signs can be seen among the figures for the top 25 US markets, all of which reported double-digit occupancy rates during the period.

Freitag observed that New York City occupancy rates are now “firmly in the 40% range,” while most of the top 25 markets have recorded occupancy rates between 20 and 30%.

Chinese recovery comparison

Compared to the Chinese recovery, which was observed earlier than in the rest of the world,

Right after the Chinese New Year (January 25), mainland Chinese hotels saw significant occupancy declines, while February and March 2020 began a very slow recovery, Freitag said. As their lockdowns began to ease around the end of March, Chinese vacationers escaped to destinations by car, resulting in a slight increase in occupancy rates on weekends.

The data showed a trend very similar to what was seen in Florida over the weekend of May 9, STR observed. There was also a surge in demand for hotels over the May 1 (May 1) bank holiday weekend in China, which Freitag potentially expects to happen in the United States over the weekend of May 4. July.

Overall, while such signs of a gradual recovery are not really impressive, Freitag believes they offer sufficient grounds for optimism. “There are green shoots; there is some positive news to be seen in the global data and in the US data, ”he said.


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