United States Occupancy Decline Finally Slows
Helen YoungThe United States hotel industry has posted a large decline in all three key performance measurements during June. This all came in a report according to data from STR.
For year on year measurements, the industry’s occupancy fell about 9.7 percent to end the month at just over 61 percent. The average daily rate dropped 9.9 percent to finish the month at $96.77. The revenue per available room for the month decreased to 18.6 percent to finish up at $59.34.
The president of STR, Mark Lomanno, said that although the industry is not yet seeing the bright light at the end of the tunnel, a few occasional flickers may have been noticed in relation to lodging demand. He went on to say that although the June demand was still down considerably from last year, the level of decline was the best so far in 2009. Thus, the occupancy decline has finally slowed down a bit, but most definitely has not ended.
Of course, this has not come as a shock to anyone. Experts say that it could still be quite some time before the hotel industry ever gets back up to what it used to be. However, the experts do point out that the hotel industry has a better chance of bouncing back to the way things use to be than the airline industry does. They say that the days of people paying very highly for airline tickets could be over. Airlines will have to come up with a different way to make their money or different ways to save money. If they do not, they could be looking at their end.
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