US Hotel Performance: Christmas & New Year
Posted by mdo on December 17, 2020 in Thought Leader Series
Bethesda, MD – New data from myDigitalOffice shows travel for the upcoming winter months & holidays continues to be adversely affected by the ongoing spread of COVID-19. As we look ahead to Christmas and New Year’s, patterns remain unimpressive & consistent with what we saw over Thanksgiving. However, it is apparent some travelers are hitting the road with hand sanitizer in tow and remaining true to their holiday travel plans.
Looking at the months of December & January, as of 12/15, December’s occupancy is sitting at 25% – a 10% climb over the last three weeks, while January’s occupancy is still hovering south of 10%. Total business on the books through the end of December is pacing similarly to what we saw in November.
Economy hotels are dominating December and have had the highest percentage occupancy growth over the past 4 weeks. Economy hotels lead all chain-scales, other than luxury, in RevPAR for both December and January.
The Christmas and New Year holidays have shown similar occupancy and rate curves as we have watched the trends for these weekends since early November. Currently, both weekends have occupancy levels of around 18%. Compared to the same distance out from Thanksgiving, markets were already showing occupancy levels above 25% for that weekend.
According to our data, the biggest differentiator in the two holiday weekends is the performance of upper-upscale and luxury hotels, which are performing stronger on New Year’s weekend than they are on Christmas, which is to be expected.
Additionally, future business on the books for New York City over the upcoming winter months and holidays illustrates a noteworthy trend. As a densely populated metro area, over the course of the pandemic, New York has consistently sat at some of the lowest occupancy levels in the US. For Christmas and New Year’s, though, New York is telling a much different story. As of 12/15, NYC occupancy levels are sitting around 30-35%. Finally, a bit of good news for New York hoteliers. I guess the New York Christmas spirit is pandemic-proof.
Whether or not you are traveling, myDigitalOffice wishes you a happy and safe holiday season.
myDigitalOffice is an end-to-end information management platform for sourcing, processing and storing hospitality data in the cloud. Our SaaS solutions help hotel owners, operators, franchisees and hospitality REITs automate the hotel back office and manage property portfolio performance to a tee. The visibility, connectivity, and control delivered by our award-winning cloud-based dashboards, document management software and integrated data feeds allow teams to reach greater levels of productivity, ensure regulatory compliance, and reduce environmental impact while optimizing profitability. Learn more at https://mydigitaloffice.com/.
Field Marketing & Demand Generation Manager