December 3, 2022
US Weekly Lodge Demand Units Report in Week Forward of Halloween

The U.S. resort trade bought 25,631,638 room nights within the week earlier than Halloween, the very best room demand on file for the forty fourth week of the 12 months.

The earlier demand file for the precise week was set in 2016 at 24,166,773 room nights bought, based on information from CoStar hospitality analytics agency STR. Like this 12 months, Halloween in 2016 fell on the Monday of week 45. Nevertheless, within the six years between, the trade added greater than 3 million out there rooms, which implies the occupancy share was larger in 2016.

In 15 of the previous 23 years, Halloween has fallen in week 44. Halloween has fallen on the Monday of week 45 solely 4 occasions since STR started benchmarking each day information.

Lodge room demand and occupancy each had been down from the earlier week, however the week-over-week decline has been steeper in earlier years.

Demand was down 5.9% from the earlier week — among the many largest week-over-week declines this 12 months, however in contrast with the earlier thrice that Halloween was on a Monday, this 12 months’s lower was the smallest.

After all, in years when Halloween was in week 44, the week-over-week demand drop was greater than double what it was this 12 months.

Journey and resort demand are sometimes muted round Halloween within the U.S., as households keep residence.

For the week ending Oct. 29, that was most true on the weekend, when resort demand was down 11% — accounting for 58% of the drop in demand for the total week.

Weekday demand was additionally down, however solely by 3.2%, among the many smallest declines on file for this week.

The relative power of weekday efficiency — in addition to rising occupancy in central enterprise districts — is a sign that the restoration of enterprise journey and demand for accommodations is progressing.

Occupancy for the total week was 65.8%, down from 69.9% per week prior. This week in 2019, when Halloween fell on Thursday, occupancy was 62.5%.

Weekday occupancy was 67.1%, which was down from 69.3% per week earlier. Weekday occupancy has been at or above 65% for the previous seven weeks. For a second consecutive week, New York Metropolis led the nation with the very best weekday occupancy (88.8%) adopted by Fort Myers, Florida (86.1%). A couple of quarter of all U.S. resort markets had weekday occupancy above 70%. Per week in the past, a 3rd of markets had been at that stage.

Weekday occupancy for the highest 25 markets additionally fell however remained strong at 73.8%, down from 75% the week prior.

The biggest occupancy decreases had been in Orlando and San Francisco, the place weekday occupancy fell by greater than 9 share factors. A drop in group demand accounted for many of the lower in each cities.

On the flip facet, Chicago and Detroit weekday occupancy superior by greater than eight share factors on strengthening group demand.

Eleven of the highest 25 markets had weekday occupancy at or above 75% with Boston, New York and Phoenix above 80%. Chicago was at 79.2%, which was the market’s sixth-highest stage for the reason that begin of the pandemic. Weekday occupancy additionally superior in Dallas to 79%, which was the market’s greatest such stage since early 2020. For the total week, prime 25 occupancy dropped three share factors to 72%.

Central enterprise districts bucked the pattern with weekday occupancy rising to 78.4%, in comparison with 77.3% within the prior week.

Weekday occupancy was at or above 85% in six of the 20 central enterprise districts, together with the Boston, Chicago, Dallas/Market Middle, Denver, Nashville and the New York Monetary District.

Whereas room demand decreased sharply over the weekend, weekend occupancy was 69.4%, the seventh highest for week 44. In comparison with different years by which Halloween fell on the next Monday, weekend occupancy was second simply behind the 69.8% achieved in 2016. The best weekend occupancy for any week 44 was 74.3% in 2017, when Halloween fell on the Tuesday of that week.

Weekend occupancy declined in almost each U.S. resort market. Among the many exceptions had been Des Moines, Iowa; Houston, Texas; Palm Seaside, Florida; and Syracuse, New York. Nonetheless, weekend occupancy surpassed 80% in 19 of the 166 STR-defined markets, together with Boston, Los Angeles and New York Metropolis. The best weekend occupancy was in Fort Myers at 86.1%, adopted by Gatlinburg/Pigeon Forge, Tennessee, at 85.4%.

For the whole U.S., nominal common each day fee fell 2.9% week over week to $153, which was 21% larger than in 2019 and 19% larger than a 12 months in the past.

Nonetheless, weekly nominal ADR was the very best on file for the forty fourth week of the 12 months; and even adjusted for inflation, ADR was within the prime three.

At $499, Maui had the very best market ADR, regardless of being down 3.5% from the earlier week, and has led the nation for many of the 12 months. Fort Lauderdale recorded the most important week-over-week ADR acquire, up 24%, adopted by Indianapolis with a 19% improve. ADR was down in most markets because of the impression of Halloween.

Amongst submarkets, the very best ADR was in Key West at $438, which was up 29% week over week. The biggest week-over-week ADR improve was in Tallahassee, up 70% because the market hosted the Georgia Tech vs. Florida State soccer sport, which drove weekend ADR up 159% week over week.

With the autumn in each occupancy and ADR, nominal income per out there room declined 8.6% week over week to $101, which was nonetheless a 28% enchancment over the identical week in 2019 and 34% larger than a 12 months in the past. Adjusting for inflation, each income measures had been forward of 2019 with actual RevPAR 11% larger than what it was three years in the past.

RevPAR was down in most markets, however elevated by greater than 8% in 9 markets, led by Fort Lauderdale (+36%).

Even with the weekly lower, 106 of the 166 markets had inflation-adjusted RevPAR above 2019 ranges over the previous 28 days.

With persevering with clear up and restoration efforts in Florida, Sarasota and Fort Myers had the very best actual 28-day RevPAR above 2019 of any markets (+115% and +61%, respectively). Among the many prime 25 markets, Tampa and San Diego led with actual 28-day RevPAR greater than 20% larger than the 2019 comparables. Solely three markets — all in northern California — had been within the “recession” class, with actual RevPAR between 50% and 80% of 2019 ranges.

Isaac Collazo is VP Analytics at STR.

This text represents an interpretation of knowledge collected by CoStar’s hospitality analytics agency, STR. Please be happy to contact an editor with any questions or considerations. For extra evaluation of STR information, go to the information insights weblog on

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