Bailout

Hotel RevPAR off 11.9%

By Anonymous

Overall, in year-over-year measurements, the industry?s occupancy fell 4.9 percent to end the week at 47.6 percent, average daily rate dropped 7.3 percent to US$96.25, and revenue per available room decreased 11.9 percent to US$45.86.

This graph shows the occupancy rate by week for each of the last four years (2006 through 2009 labeled by start of month).

Notes: the scale doesn't start at zero to better show the change. Thanksgiving was later in 2008 and 2009, so the dip doesn't line up with the previous years.

Data Source: Smith Travel Research, Courtesy of HotelNewsNow.com

This is a two year slump for the hotel industry. Although occupancy is off 4.9% compared to 2008, occupancy is off about 17% compared to the same week in 2006.

Leisure travel (weekend occupancy) is off only about 2% compared to the same week in 2008, but business travel (weekday occupancy) is off more suggesting no pickup in business travel - see the graph in the HotelNewsNow report.

Full post as published by Calculated Risk on December 10, 2009 (boomark / email).