STR: Hotel occupancy holds steady in October

Hotel occupancy in Atlanta reached 51.4 percent in October. Photo credit: Getty/SeanPavonePhoto (Arriba Capital secured a $40.7-million loan for the 194-room property, which is located above a five-story parking deck.)

In October, the U.S. hotel industry showed slightly lower performance from the month previous, according to the latest data from STR.

Occupancy for the month was 48.3 percent, down 30.1 percent from October 2019 and unchanged from September. Average daily rate reached $97.61, down 26.8 percent from 2019 and down 1.5 percent from September. Revenue per available room, meanwhile, was $47.13, down 48.8 percent from 2019 and down 1.6 percent from September. 

More recently, November weekly data showed that occupancy reached its lowest level since the week of June 14-20.

Top Markets

Among the top 25 markets, Oahu Island in Hawaii reported the lowest October occupancy level at 22 percent, a 73.5 percent decline in year-over-year comparisons. The market showed the highest ADR ($157.71), however, which was down 30.9 percent.

Norfolk/Virginia Beach, Va., reported the highest occupancy level at 53.2 percent, down 16.7 percent year over year. The next highest occupancy levels were seen in Phoenix (51.9 percent) and Atlanta (51.4 percent).

In addition to Oahu Island, 10 other markets posted ADR above $100.

Overall, the top 25 markets showed lower occupancy but higher ADR than all other markets.