by Calculated Risk on 3/11/2021 02:37:00 PM

Note: Starting next week, the year-over-year comparisons will be easy - since occupancy declined sharply at the onset of the pandemic - but occupancy will still be down significantly from normal levels.

The occupancy rate is down 26.7% compared to the same week in 2019.

From CoStar: STR: US Hotel Occupancy Reaches 20-Week High

U.S. weekly hotel occupancy reached a 20-week high, according to STR‘s latest data through March 6.

Feb. 28 through March 6, 2021 (percentage change from comparable week in 2020):

• Occupancy: 49.0% (-20.5%)
• Average daily rate (ADR): US$98.30 (-21.9%)
• Revenue per available room (RevPAR): US$48.13 (-37.9%)

While demand has improved in in many states, most markets remain deep in recessionary territory when indexed to 2019 levels. Year-over-year comparisons with 2020 are beginning to turn favorable as the country hits the one-year anniversary of its earliest pandemic restrictions.
emphasis added

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

Click on graph for larger image.

The red line is for 2021, black is 2020, blue is the median, and dashed light blue is for 2009 (the worst year since the Great Depression for hotels prior to 2020).

Even when occupancy increases to 2009 levels, hotels will still be hurting.

Note: Y-axis doesn't start at zero to better show the seasonal change.