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The Ritz Carlton in Manhattan (Google Maps, iStock)

U.S. Hotel Occupancy Surpasses 40% and Prices Are Rising

Operators in tourist destinations are feeling confident as states begin to reopen

Last updated:

National hotel occupancy crept back up above the 40 percent mark last week as leisure travelers continued to head to tourism spots in states that are reopening.

Occupancy hit 41.7 percent for the week ending June 13, according to STR. With more people staying in hotels in these tourist destinations, operators are beginning to feel confident they can start pushing prices back up.

“As we have noted, the drive-to destinations with access to beaches, mountains and parks continue to lead the early leisure recovery,” STR senior director Alison Hoyt said. “With more consistent demand, we’re beginning to see more pricing confidence in those areas as well.”

New York City occupancy stood at 45.7 percent last week, which was down nearly 1.5 percentage points from the previous week. Miami occupancy ticked up to 33.3 percent and Los Angeles occupancy stood at 42 percent. Chicago’s occupancy was at 32.4 percent.

Hotels are still struggling though.

In New York, the Fitzpatrick Hotel announced it will be laying off 58 staff members.

Contact Rich Bockmann at rb@therealdeal.com or 908-415-5229.

[The Real Deal]

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