Source: Hotel News Now
April 24, 2020
HENDERSONVILLE, Tennessee—The U.S. hotel industry likely hasn’t reached the bottom of performance declines, and it will still be some time before it begins to climb out of this pit, said Jan Freitag, SVP of Lodging Insights at STR.
Hoteliers desperate for a bright spot in the “dismal” data might see a slightly lesser decline in revenue per available room for the week ending 18 April as encouraging, but Freitag warned against that outlook.
RevPAR was down 79.4% for the most recent week on record, after six weeks during which the year-over-year declines accelerated from -11.6% to -83.6%.