2020 Was the Worst Year on Record for Hotels
Hendersonville, TN, February 17, 2021-The U.S. hotel industry reported all-time lows in occupancy and revenue per available room (RevPAR), according to year-end 2020 data from STR.
In addition to historically low absolute levels in the aforementioned metrics, average daily rate (ADR) came in lower than any year since 2011. Year-over-year declines were the worst on record across the three key performance metrics.
Occupancy: 44.0% (-33.3%)
Average daily rate (ADR): US$103.25 (-21.3%)
Revenue per available room (RevPAR): US$45.48 (-47.5%)
For the first time in history, the industry surpassed one billion unsold room nights, which eclipsed the 786 million unsold room nights during the great recession in 2009. Including a 100.6% decline in December, U.S. hotel profitability fell 84.6% in 2020, according to STR‘s monthly P&L data release.