by Calculated Risk on 10/01/2009 02:44:00 PM

We are now in the Fall business travel season ...

From HotelNewsNow.com: Norfolk-Virginia Beach posts RevPAR growth in STR weekly numbers

Overall, in year-over-year measurements, the industry’s occupancy fell 7.2 percent to end the week at 59.8 percent. Average daily rate dropped 10.1 percent to finish the week at US$100.30. RevPAR for the week decreased 16.6 percent to finish at US$59.94.

Click on graph for larger image in new window.

This graph shows the YoY change in the occupancy rate (3 week trailing average).

The three week average is off 10.2% from the same period in 2008.

The average daily rate is down 10.1%, and RevPAR is off 16.6% from the same week last year.

Data Source: Smith Travel Research, Courtesy of HotelNewsNow.com

The goods news is the comparisons will become easier soon since business travel fell off a cliff last October. However occupancy rates below 60% are crushing. For comparison, occupancy rates for October in 2006 and 2007 were close to 68%.