COVID-19: Huge declines last week in US | Chinese eager for travel

Frightening declines last week in US performance Showing further effects of the COVID-19 pandemic, the U.S. hotel industry reported significant YOY declines in the three key performance metrics during the week of March 15-21, according to STR. In comparison with the week of March 17-23, 2019, occupancy fell 56.4% to 30.3%, ADR was down 30.2% to US$93.41, and RevPAR fell 69.5% to US$28.32. Aggregate data for the top 25 markets showed steeper declines: Occupancy fell 66.3% to 26.2%, ADR was down 35.2% to US$105.40 and RevPAR fell 78.2% to US$27.59. New York City’s drop in RevPAR (-86.5% to US$26.98) was due…
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