The U.S. hotel industry reported its lowest third-quarter occupancy level on record, according to Q3 2020 data from STR.
Occupancy for the quarter was 48 percent, down 32.2 percent from the same quarter in 2019. Average daily rate was $101.25 (down 24.1 percent) and revenue per available room was $48.58 (down 48.5 percent).
The absolute occupancy and RevPAR levels were the lowest for any Q3 in STR’s U.S. database.
Among the top 25 markets, Oahu Island, Hawaii, saw the lowest occupancy level (24.1 percent), while Norfolk/Virginia Beach, Va., experienced the highest occupancy (61.4 percent).
Three additional top 25 markets reported occupancy above 50 percent: San Diego (51.9 percent), Detroit (51 percent) and Los Angeles/Long Beach (50.6 percent).
In aggregate, the top 25 markets fell behind all other markets in each of the three key performance metrics.