Bethesda, MD – What’s typically one of the busiest travel weeks in the US, this Thanksgiving will look much different for many would-be travelers due to recent surges in COVID-19 cases, according to the latest data from the MAPP report, by myDigitalOffice. And while yesterday’s TSA checkpoint surpassed 1,000,000 travelers again, which is a positive sign for consumer confidence, that’s still just 45% of the same day last year.
The following charts show US hotel performance data as of Tuesday, 11/17/20:
- More rooms continue to be booked each week, despite lockdown restrictions
- US occupancy still shy of 30% for the month of November, several points lower than where we stood for October at this time last month
- December bookings also tracking behind November, when comparing to the same time in October
- Economy is the only class north of 35%, will likely break 40% for the month
Looking into Thanksgiving, as of early last week, occupancy for the holiday weekend was approaching 25%. When comparing that to our last big travel weekend, Labor Day, this performance lags by several points. In the final week leading up to Labor Day, however, occupancy increased by nearly 20%. Hotels will hope for a similar last-minute jump this weekend.
- Luxury hotels had the largest percentage-drop in ADR, over the last several weeks
- Occupancy nearly doubled, in the past month, for Economy and Midscale hotels
- Even Luxury hotels still struggling to achieve $50 in revenue per available room
Given the recent spikes in COVID cases and hospitalizations throughout the US, particularly in several hard hit regions in several Midwestern states, it’s no surprise to see the state of Minnesota, along with several major metropolitan areas, rounding out the worst performing markets for November. Conversely, there wasn’t a single major metro in our top five. As we’ve seen in recent weeks, destinations and “get-away” towns continue to outperform.
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/.