Hotel Occupancy Levels Hold Steady for July 4th
Posted by mdo on July 2, 2020 in Thought Leader Series
As hotels continue to slowly re-open, our industry’s shift back to a sense of normalcy has left many hoteliers wondering, “What now?”
At myDigitalOffice, we’re helping hoteliers answer that question by providing a glimpse into the future. According to the newest data from our recently released MAPP report, the industry’s first and only free resource that leverages forward-looking bookings data to identify recovery trends in real time, the future continues to see green shoots.
We’ve been monitoring booking pace patterns for the upcoming July 4th holiday weekend, as many travelers across the US plan to venture out to coastal towns and other popular tourist destinations. For the holiday weekend, the below chart illustrates an upward trend in occupancy levels throughout the months of May and June. However, as occupancies have climbed, rates have steadily, albeit slightly, decreased.
In Florida, occupancy levels are slightly higher than the average across the US, but their daily rates have remained in line with the rest of the country.
July 4th Weekend Occupancy & ADR – US
July 4th Weekend Occupancy & ADR – Florida
July 4th Weekend Occupancy & ADR – By Class
For Independence Day weekend, as of yesterday, July 1, occupancy in the US is approaching 25%, which is up from 12% just a few weeks ago.
As hoteliers continue to plan and execute reopening strategies, forward-looking data is cucial to hotel portfolios as they implement new marketing, staffing, and revenue plans. Set yourself up for success and get ahead of the recovery curve with a strategic, holistic, and profit centered approach to hotel performance.
Hotel demand will inevitably continue to pick up. Prepare, plan, and implement the right tools and best practices to have a leg up on the competition. Reliable data sets and analysis are the foundation of any good plan. The MAPP report by myDigitalOffice helps hoteliers achieve this solid foundation, and brings clear visibility and instant insights to your hotel portfolio. Hotels who opt-in to this free tool agree to share their anonymized data in the broader market sets and will, in turn, receive daily, updated reports containing future business on the books data for their portfolio and their hotels’ respective markets. Adoption and market coverage continues to grow daily.