The lodging sector will face two headwinds: a contraction in overall economic activity and the need for social distancing, which encourages staying at home or in settings with few other humans; and not traveling. This will cause a severe decline in lodging demand in the U.S., as it has in other countries. CBRE estimates that RevPAR will decline 37% in 2020, with a contraction of more than 60% in Q2.
This sentiment survey was conducted by Horwath HTL Singapore, in conjunction with the SHA (Singapore Hotel Association) to gauge the initial impact of the COVID-19 pandemic.
Ontario saw double-digit declines across the three key performance metrics: occupancy (-65.1% to 21.7%), ADR (-18.1% to CAD120.77) and RevPAR (-71.4% to CAD26.22)
New York, New Yorks hotel occupancy drops to 16.8 percent
This sentiment survey was conducted by Horwath HTL Indonesia, in conjunction with the PHRI (Indonesian Hotel & Restaurant Association) to gauge the initial impact of the COVID-19 pandemic.
The extent to which the coronavirus has impacted the global hotel industry is now coming into focus based on new data from HotStats, which provides further transparency in terms of the damaging impact of the disease on travel and, by extension, on hotel profitability. Beyond the virulence of the virus, this much is sure: property budgets are rendered useless, guidance is ineffective and market context is all the industry can truly rely on now to gain an understanding of the breadth of the virus impact.
Daily occupancy in the country was as high as 65.3% on 26 February and had been positioned above 30% through 12 March, according to STR data
Central/South America hotel occupancy fell 2.1% to 58.8% in February, but a 9.7% ADR increase to $93.60 pushed RevPAR up 7.4% to $55.04.
Asia/Pacific hotel occupancy decreased 37.7% to 41.2% in February, and despite a 1.9% ADR increase to $107.35, RevPAR dropped 36.5% to $44.27.
U.S. hotel occupancy was mostly flat in February (+0.2% to 62.2%), but ADR rose 1.4% to $130.78 to lift RevPAR 1.7% to $81.33.