US hotel occupancy surpasses 40%. And prices are rising

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

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
Just-sold Shelter Island hotel borrows $17M for transformation
Just-sold Shelter Island hotel borrows $17M for transformation
Just-sold Shelter Island hotel borrows $17M for transformation
Ty Warner and Four Seasons 57 East 57th Street (Getty, Google Maps)
Ty Warner’s Four Seasons Hotel sues tenant over $2.7M of missed rent
Ty Warner’s Four Seasons Hotel sues tenant over $2.7M of missed rent
Trump nearing $370M sale of DC hotel to Miami investment firm
Trump nearing $370M sale of DC hotel to Miami investment firm
Trump nearing $370M sale of DC hotel to Miami investment firm
Hotel Association sues city over severance pay mandate
Hotel Association sues city over severance pay mandate
Hotel Association sues city over severance pay mandate
Pandemic paralysis: Delta continues to impede hotel, restaurant recovery
Pandemic paralysis: Delta continues to impede hotel, restaurant recovery
Pandemic paralysis: Delta continues to impede hotel, restaurant recovery
Trump’s DC hotel lost $70M during presidency
Trump’s DC hotel lost $70M during presidency, docs say
Trump’s DC hotel lost $70M during presidency, docs say
Wyndham CEO Geoff Ballotti and Marriott CEO Anthony Capuano (Getty, Wyndham, Marriott)
Hotel companies increasingly turning to all-inclusive resorts
Hotel companies increasingly turning to all-inclusive resorts
The hotel recovery is far from complete
The hotel recovery is far from complete
The hotel recovery is far from complete
arrow_forward_ios

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

Loading...