March is here. Which means spring is on the horizon: warmer weather, spring breaks, and March marks a full year since the first “two week lockdown” here in the US. Well, our lockdown lasted a bit longer than two weeks. But it seems as though things are finally starting to look up.
As vaccine rollouts continue and warmer weather allows for outdoor, socially distant vacations, travelers are feeling more confident putting their long overdue sky miles and hotel points to good use. As school spring breaks kick off, we are seeing some really promising data for our industry.
– In just over a week occupancies have jumped from around 22% on 2/23 to around 40% on 3/2
– For these three spring break weeks illustrated, occupancy is spread evenly across each class, something we didn’t see much of in 2020. For most of last year, the economy and midscale hotels saw the highest occupancies while upscale to luxury struggled. We believe this is a positive sign of an overall increase in travel and travel comfort levels.
– Travelers appear to still be exercising short booking windows, the current week (2/27 – 3/6) showing the highest occupancies as of right now – with most classes hovering around 40%
-We expect the upcoming weeks of 3/6 – 3/13 and 3/13 – 3/20 to show similar figures as the dates approach.
With the most recent news of vaccines being available to all US adults by the end of May – we’ll be keeping a close eye on booking patterns for May and beyond. Be sure to subscribe to our blog and newsletter to never miss a MAPP update. For more information on your specific portfolio, opt your hotels into the MAPP report today.