Memorial Day Weekend Occupancy Approaching 2019 Levels.
Posted by mdo on May 26, 2021 in Thought Leader Series
US hotel occupancy during Memorial Day weekend in 2019 finished in the mid-70% range. That same weekend last year dropped to an abysmal 40%, although that was still slightly stronger than many late projections, given the wide-spread lockdowns.
New data from the MAPP Report, powered by myDigitalOffice (MDO), shows occupancy rates for the upcoming Memorial Day weekend already approaching 60%. Considering this data is as of last Tuesday, 5/23, in addition to the recent trends we’ve observed with last-minute bookings in the final days leading up to a major holiday or event, all signs point to this weekend finishing somewhere in the 70% range. So will US hotels flirt with 2019 performance this weekend? We’ll know very soon.
As we head into the first major US holiday since vaccine rollouts ramped up, several travel trends are emerging for Memorial Day Weekend. As the unofficial kick-off to summer, more Americans seem eager to hit the road. Conde Nast Traveler recently reported more than 37 million travelers plan to venture at least 50 miles away from home this weekend, which is welcomed news for the hospitality industry and supports the hotel performance trends we are seeing, especially in destination markets.
Data from MDO’s MAPP Report also highlights a few trends shaping the travel industry and where consumers are planning to spend their upcoming vacation.
Occupancies for the holiday weekend have been steadily climbing since this time last month, and many areas are now approaching the 65-70% range. Some, i.e., Charleston and the Florida Keys, will likely top 90% occupancy this weekend.
Occupancies are also showing similar patterns across all chain scales, from economy to luxury hotels, as all have been increasing, nearly in lockstep with one another, each week as we head into the holiday.
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About the MAPP Report:
The Market Analytics, Pace, & Performance (MAPP) Report is a free industry resource, powered by myDigitalOffice, that provides hoteliers and management teams with real-time insights into forward-looking business on the books for their hotels and their respective markets.