Forecast: Holiday season could fuel hotel occupancy rebound

hotel lobby
U.S. occupancy for the month of October finished between 37 percent and 38 percent, according to myDigitalOffice. Photo credit: Getty Images / alvarez

While hotel occupancy across the country declined in October, new data from myDigitalOffice suggests the upcoming holiday season could fuel a rebound.

Future business on the books for November and December in New York City is already nearing levels seen at the end of October, with both months hovering around 20 percent occupancy as of Nov. 3. That entry point for November looks similar to the peak summer travel months for the rest of the U.S.

December may be even better since no month since the low point from April has had higher occupancy on the books a full four weeks out from the start of the month.

When comparing to other markets throughout the U.S., looking at Thanksgiving weekend in particular (nights of Nov. 25–28), the top three markets for the holiday weekend are the Florida Keys (48 percent); Chattanooga, Tenn. (38 percent); and Greenville, S.C. (31 percent). Atlanta is the largest major metro market in the top 10, with current Thanksgiving weekend occupancy of 23 percent with average daily rate approaching $90.

U.S. occupancy for the month of October finished between 37 percent and 38 percent following a 20 percent entry point. The same 20 percent range is where the country stood for November coming into the month.