What is the Average Daily Rate? Hotel Room Occupancy Rates and Statistics
In the United States, there are almost 53,000 hotel properties. And within those properties, there are almost 5 million rooms.
The average daily rate for all those hotels is different but the point is, the hotels all want to fill up.
So what’s the good news?
Well it turns out that trends are getting better for hotel occupancy. Travel, like many other industries, took a sharp hit in the 2008 crash as occupancy was at 54.6% for U.S. hotel rooms in 2009.
This is compared to what things were like in say, 2007 where the occupancy rate was 62.8%.
But as the negative effects of the recession were mitigated, in 2013, the occupancy rate has been climbing back up to 62%. This also meant that the average daily rate increased as well.
As long as the economy steadily increases, hotel occupancy should keep going up.
And this makes sense. The travel industry’s success is based on the middle class having disposable income for tourism. When the economy is good, tourism is good, and hotel metrics such as average daily rate is good.
And this has proven true in different parts of the world at different times throughout the year.
How do you see the travel industry progressing in the coming years? Have you noticed a correlation between hotel occupancy, average daily rate, and the travel industry in general? Let us know in the comments below.
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