Lodging Sector Update
U.S. RevPar down and COVID-19 cases up, weekend occupancy back above 50% for Upper Midscale and Upscale hotels
U.S. hotel RevPAR was down 55.8% year-over-year for the week of November 1-7, while new COVID-19 cases reached a weekly high. Aside from those weeks that include an easier comparable from 2019, year-over-year decreases of 50% or worse will be the norm for the remainder of 2020.
While U.S. occupancy dipped a bit lower than the previous week to 44.2%, weekend occupancy pushed back above the 50% mark with healthy Saturday levels for Upper Midscale and Upscale hotels. With consumers on the road, interstate and small metro/town locations pushed much closer to the norm than their urban and airport counterparts.
Ahead of the Curve: A Kalibri Labs Series
An in-depth look at the impact of the pandemic and potential shape of recovery in specific markets. Click here to read about the NYC, Houston, Atlanta, Los Angeles, Chicago, and Washington D.C. markets. Coming Soon: Miami.
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