COVID-19: U.S. occupancy tumbles | Airbnb’s US$250M apology

‘Unprecedented lows’ Reflecting the continued impact of the COVID-19 pandemic, the U.S. hotel industry reported significant year-over-year declines in the three key performance metrics during the week of March 22-28, according to STR. “Occupancy continues to fall to unprecedented lows, with more than 75% of rooms empty around the nation last week,” said Jan Freitag, STR’s senior VP of lodging insights.??In comparison with the week of March 24-30, 2019, the industry recorded the following: Occupancy fell 67.5% to 22.6%; ADR fell 39.4% to US$79.92; ?RevPAR was down 80.3% to US$18.05. ??Aggregate data for the top 25 markets showed steeper declines in…
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