US hotel occupancy surpasses 40%. And prices are rising

Operators in tourist destinations are feeling confident as states begin to reopen

TRD NATIONAL /
Jun.June 18, 2020 12:21 PM
The Ritz Carlton in Manhattan(Google Maps, iStock)

The Ritz Carlton in Manhattan (Google Maps, iStock)

National hotel occupancy crept back up above the 40 percent mark last week as leisure travelers continued to head to tourism spots in states that are reopening.

Occupancy hit 41.7 percent for the week ending June 13, according to STR. With more people staying in hotels in these tourist destinations, operators are beginning to feel confident they can start pushing prices back up.

“As we have noted, the drive-to destinations with access to beaches, mountains and parks continue to lead the early leisure recovery,” STR senior director Alison Hoyt said. “With more consistent demand, we’re beginning to see more pricing confidence in those areas as well.”

New York City occupancy stood at 45.7 percent last week, which was down nearly 1.5 percentage points from the previous week. Miami occupancy ticked up to 33.3 percent and Los Angeles occupancy stood at 42 percent. Chicago’s occupancy was at 32.4 percent.

Hotels are still struggling though.

In New York, the Fitzpatrick Hotel announced it will be laying off 58 staff members.

Contact Rich Bockmann at [email protected] or 908-415-5229.


Related Articles

arrow_forward_ios
Doral Inn and Suites, Red Roof Inn Miami Airport and Mayor Carlos Gimenez (Google Maps, Office of the Mayor)

Miami-Dade searching for more hotels to isolate Covid-19 patients as cases surge

Miami-Dade searching for more hotels to isolate Covid-19 patients as cases surge
From top: Los Angeles, Minneapolis, Chicago and New York 

TRD Insights: These metro areas are seeing the most CMBS loan distress

TRD Insights: These metro areas are seeing the most CMBS loan distress
Marriott Essex House, Knickerbocker Hotel and the New Yorker Hotel

What reopening? Hotel layoff notices pour in

What reopening? Hotel layoff notices pour in
The breakdown: Inside Virgin Hotels’ $330M vision for South Beach and how it vanished

The breakdown: Inside Virgin Hotels’ $330M vision for South Beach and how it vanished

The breakdown: Inside Virgin Hotels’ $330M vision for South Beach and how it vanished
The St. Regis Hotel at Two E 55th Street (Courtesy Cvent)

Hotel distress could strip NYC of $1.8B in tax revenue

Hotel distress could strip NYC of $1.8B in tax revenue
Hotelier John Fitzpatrick and the Fitzpatrick Hotel at 687 Lexington Avenue (Google Maps)

Fitzpatrick Hotel rehires staff just to lay them off again

Fitzpatrick Hotel rehires staff just to lay them off again
The Gaylord hotel brand is now spending between $10 million and $12 million on new safety procedures. (iStock)

Hotels are reopening. Will anyone come?

Hotels are reopening. Will anyone come?
21 East 52nd Street (Google Maps, iStock)

Midtown hotel to close forever; office conversion possible

Midtown hotel to close forever; office conversion possible
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...