U.S. hotel revenue and occupancy data has finally fully caught up to the disaster everyone has been expecting.
A same-week comparison with the prior year shows that last week:
- Occupancy fell 67.5% to 22.6%
- Average daily rate: down 39.4% to $79.92
- Revenue per available room: down 80.3% to $18.05
More than 75% of hotel rooms in the U.S. were empty last week. And things were even worse in the top 25 hotel markets (19.6% occupancy, and revenue per available room down nearly 86%).
The worst of the worst hit major cities?
New Orleans, Louisiana, recorded the steepest decline in RevPAR (-92.8% to US$10.27), due primarily to the second-largest decreases in occupancy (-84.9% to 12.7%) and ADR (-52.3% to US$80.74).
Oahu Island, Hawaii, experienced the steepest drop in occupancy (-86.4% to 10.5%).
Miami/Hialeah, Florida, posted the largest decline in ADR (-57.9% to US$116.64).
Of note, occupancy in New York, New York, was down 81.8% to 15.2%. In Seattle, Washington, occupancy dropped 76.6% to 18.5%.
80,000 Marriott points used to get you a free night outside of peak season. Now it transfers title to the whole hotel.
Remember the guy who claimed to own a New York hotel because he spent the night there, and got a court to agree? There are probably owners now who’d just relinquish the keys.