HENDERSONVILLE, Tenn. — The U.S. hotel industry reported all-time lows in occupancy and Revenue Per Available Room (RevPAR), according to year-end 2020 data from STR.
In addition to historically low absolute levels in the aforementioned metrics, Average Daily Rate (ADR) came in lower than any year since 2011. Year-over-year declines were the worst on record across the three key performance metrics:
• occupancy: 44 per cent (down 33.3 per cent)
• ADR: US$103.25 (down 21.3 per cent)
• RevPAR: US$45.48 (down 47.5 per cent)
For the first time in history, the industry surpassed one-billion unsold room nights, which eclipsed the 786-million unsold room nights during the Great Recession in 2009. Based on November year-to-date results, the industry is expected to show nearly zero profit for the year when STR releases P&L data this week.