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Hotels: Occupancy Rate Down 9.7% Compared to Same Week in 2019


by Calculated Risk on 12/29/2022 08:44:00 PM

U.S. hotel performance came in lower than the previous week and showed weakened comparisons to 2019 on the unfavorable side of a holiday calendar shift, according to STR’s latest data through Dec. 24. At the same time, occupancy on the 24th was the highest for any Christmas Eve on record.

Dec. 18-24, 2022 (percentage change from comparable week in 2019*):

o Occupancy: 43.9% (-9.7%)
o Average daily rate (ADR): $132.29 (+2.3%)
o Revenue per available room (RevPAR): $58.04 (-7.6%)

*Due to the pandemic impact, STR is measuring recovery against comparable time periods from 2019.
emphasis added

The following graph shows the seasonal pattern for the hotel occupancy rate using the four-week average.

Click on graph for larger image.

The red line is for 2022, black is 2020, blue is the median, and dashed light blue is for 2021. Dashed purple is 2019 (STR is comparing to a strong year for hotels).

The 4-week average of the occupancy rate is above the median rate for the previous 20 years (Blue) and close to 2019 levels.

Note: Y-axis doesn’t start at zero to better show the seasonal change.
The 4-week average of the occupancy rate will start increasing early in 2023.

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