U.S. weekly hotel occupancy fell to its lowest level since late May, according to the latest data from STR through 28 November.
Preliminary data and analysis from STR shows a hotel occupancy decline of 75% in Mainland China from 14-26 January 2020. Performance during the Chinese New Year holiday period was significantly worsened by the outbreak of novel coronavirus (2019-nCoV).
The third quarter ended on a high note for U.S. hotels, as September profit per room climbed year-over-year, indication that the current cycle still has teeth.
Last year,ÊParis-based AccorHotels blamed terror attacks in France for a revenue decline in the first quarter of 2016. Things are looking brighter now: AccorHotelsÕ revenue has improved slightly despite the recent hotel occupancy slump in France, one of the company’sÊhighest-earning markets. First-quarter occupancy and performance rates increased in France, Germany and Britain.