According to data provided by STR, hotel occupancy in the United States between November 23 and 29 was lower than last year in the same week, and historically the week of Thanksgiving is the slowest for the hotel industry in the US. Year-over-year industry measurements show that occupancy fell by 22.6 percent, remaining at 41.5 percent in 2008 compared to 53.6 percent in 2007.The daily average rate fell 12.2 percent to end the week at $90.84 ($103.51 in 2007).
Revenue per available room decreased 32 percent to $31.70 at the end of the week, up from $55.48 in 2007.
For Mark Lomanno, president of STR, the numbers reflected in the reports are not the best, but they are not as bad as it seems, because beyond the typical decline of the Thanksgiving party, the figures are shown in accordance with the low trend that the hotel industry has been presenting.
The last few weeks have been like a roller coaster because of the past Thanksgiving. However, it seems that a pattern of decline has settled in the industry year after year; according to comparisons, there is a trend that is expected to continue through at least the first quarter of 2009.
