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COVID-19: U.S. hotel stocks, RevPAR in decline

U.S. RevPAR declines begin in earnest RevPAR in the United States was off a staggering 32.5% during the week of March 8-14, according to new STR data, showing how much COVID-19 is impacting the hotel industry. Occupancy was down 24.4% to 53%, while ADR showed a 10.7% decline to US$120.30. Analyst Patrick Scholes at SunTrust Robinson Humphrey opined on Wednesday that it is possible that RevPAR may be down over 50%, with some hotels running occupancy in the single digits to teens, versus a long-range average pre-virus of 66%. The performance declines were pronounced in hotels that cater to meetings…
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