As U.S. performance has risen slowly each week, the economy sector has continued to post the strongest occupancy, including a level of 51.1% for the week ending with June 13. The big-box hotels that rely heavily on group demand have struggled the most in the COVID-19 era.
STR has noted in previous weeks that Europe has lagged China and the U.S. in the occupancy recovery timeline. In the U.K. specifically, the weekly occupancy pattern has remained consistent since the COVID-19 lockdown was implemented.
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One of our subscribers noted a calculation error in Exhibit 6 of the Beach Enclave case challenge that we sent out Monday. Please note that on page 16 of the case, the equity multiple for option C has been corrected to 5.7.
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The Center for Hospitality Research
School of Hotel Administration, Cornell University
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