HotStats Data Reveals After Unanticipated 2020, Hotel Industry Knows What It’s Up Against
After Unanticipated 2020, Hotel Industry Knows What Its Up Against
the source for hotel and hospitality trends
After Unanticipated 2020, Hotel Industry Knows What Its Up Against
Hotels in both the Middle East and Africa reported all-time lows in occupancy and revenue per available room (RevPAR), according to year-end 2020 data from STR.
Occupancy: 30.0% (-48.7%) – Average daily rate (ADR): US$78.75 (-10.1%) – Revenue per available room (RevPAR): US$23.62 (-53.9%)
Worsened pandemic metrics and assumptions of limited early-year travel led STR and Tourism Economics to slightly downgrade their latest U.S. hotel forecast. Full recovery of demand remains on track for 2023, while close-to-complete RevPAR recovery is still projected for 2024.
Europes hotel industry reported all-time lows in occupancy and revenue per available room (RevPAR), according to STR's year-end 2020 data.
Occupancy: 44.5% (-35.6%) – Average daily rate (ADR): US$74.99 (-22.2%) – Revenue per available room (RevPAR): US$33.39 (-49.9%)
56% Expect to Travel for Leisure; Business Travel Not Expected to Return Until 2024; Consumer Comfort with Travel Linked to Vaccine Distribution
Aggregate data for the Top 25 Markets showed lower occupancy (38.4%) but higher ADR (US$95.94) than all other markets.
December 2020 data from STR shows performance metrics closer to what was seen at the beginning of the pandemic.
Year-end 2020 data shows all-time lows across key performance metrics for U.S. hotels.