by Calculated Risk on 7/14/2022 12:57:00 PM
July 3-9 2022 (percentage change from comparable week in 2019*):
o Occupancy: 63.3% (-14.5%)
o Average daily rate (ADR): $153.71 (+15.7%)
o Revenue per available room (RevPAR): $97.37 (-1.1%)
Whereas the previous week’s percentage changes were elevated on the favorable side of the calendar shift, the most recent week was skewed downward due to a comparison with a non-holiday week in 2019. After two consecutive weeks of lower demand around the Fourth of July holiday, the metrics are expected to strengthen for the remaining weeks of July.
*Due to the pandemic impact, STR is measuring recovery against comparable time periods from 2019.
The following graph shows the seasonal pattern for the hotel occupancy rate using the four-week average.
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).