Reflecting concerns and cancellations around the COVID-19 outbreak, the U.S. hotel industry reported negative year-over-year results in the three key performance metrics during the week of 1-7 March 2020, according to data from STR.
In comparison with the week of 3-9 March 2019, the industry recorded the following:
* Occupancy: -7.3% to 61.8%
* Average daily rate (ADR): -4.6% to US$126.01
* Revenue per available room (RevPAR): -11.6% to US$77.82
Performance declines were uniform across chain scales, classes and location types.
The biggest decline in revenue per room - a whopping -45.5 - was registered in San Francisco. Average daily rates there were down 30.4% to $213. Seattle occupancy was down 26.4%, with hotels half empty, and rates down 34.8% to ~ $68.
Out of the top 25 markets, average rates went up in Oahu 1.7% and Norfolk, Virginia by 1.3%. The only two markets with occupancy growth were Detroit and Nashville.
Numbers announced next week will be worse.