March Sees Huge Declines Across The Board
STR last week released its U.S. Hotel Industry At A Glance for the month of March. Among the key findings for the month, which was greatly impacted by the Coronavirus, were that demand declined 41.2 percent while occupancy dropped 42.3 percent. In addition, RevPAR fell off by 51.9 percent while ADR slipped 16.5 percent. Demand was up 2 percent during the month of March.
Meanwhile, for the 3-month period ending March RevPAR declined 19.3 percent while occupancy was down 15.9 percent. ADR dropped 4.0 percent during the same period while demand declined 14.2 percent.HotelReviewMarch_2020