by Calculated Risk on 6/30/2011 07:59:00 PM

Here is the weekly update on hotels from HotelNewsNow.com: Orlando posts weekly decreases in all three key metrics

Overall, the U.S. hotel industry’s occupancy rose 2.8% to 71.6%, ADR increased 3.3% to US$102.33, and RevPAR finished the week up 6.2% to US$73.30.

Note: ADR: Average Daily Rate, RevPAR: Revenue per Available Room.

The following graph shows the seasonal pattern for the hotel occupancy rate using a four week average for the occupancy rate.

Click on graph for larger image in graph gallery.

The summer leisure travel season is now starting, and the occupancy rate will increase over the next few of months. Right now the occupancy rate is tracking closer to 2008 than to 2010 - and well above 2009.

A reminder: the occupancy rate started to fall off in the summer of 2008, and really fell off a cliff in the fall of 2008. Who can forget the ruckus following the AIG post-bailout party at the St. Regis Monarch Beach Resort?

Travel was already declining, and then that scandal lead to a collapse in corporate travel ... so I expect the occupancy rate in 2011 to be above 2008 pretty soon.

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

Earlier today ...
• Kansas City Manufacturing Survey: Manufacturing activity rebounded solidly in June
• Weekly Initial Unemployment Claims decline slightly to 428,000
• CoreLogic: May Home Price Index increased 0.8%