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
The gains accounted for nearly a third of overall job growth. (iStock)
Construction, leisure & hospitality jobs rebounded in March
Construction, leisure & hospitality jobs rebounded in March
Holiday Inn at 37-10 114th Street in Corona, Queens (Google Maps)
Holiday Inn next to LaGuardia Airport faces foreclosure
Holiday Inn next to LaGuardia Airport faces foreclosure
(iStock/Illustration by Kevin Rebong for The Real Deal)
Travel roars back — and summer rentals book up
Travel roars back — and summer rentals book up
City Council member Justin Brannan (Getty, Justin Brannan via Facebook)
Council member wants to take up office-to-resi conversions debate
Council member wants to take up office-to-resi conversions debate
PMG principals Kevin Maloney (middle), Ryan Shear (left) and Dan Kaplan with a rendering of Waldorf Astoria Miami (PMG, Muse Residences, Rendering via ArX Solutions)
Waldorf Astoria Miami, planned as the tallest resi tower south of Manhattan, launches sales
Waldorf Astoria Miami, planned as the tallest resi tower south of Manhattan, launches sales
HFZ's Ziel Feldman. (Getty, Shore Club)
HFZ faces lawsuit, unpaid tax bill for Shore Club South Beach hotel
HFZ faces lawsuit, unpaid tax bill for Shore Club South Beach hotel
U.S. hotel occupancy rises. (Getty)
Sluggish hotel market showing signs of life
Sluggish hotel market showing signs of life
The Standard hotel at the High Line (Getty)
Standard Hotel to erect sidewalk shed on High Line after debris falls
Standard Hotel to erect sidewalk shed on High Line after debris falls
arrow_forward_ios

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

Loading...