Occupancy for New York Fell 7.3% As a Result of Superstorm Sandy During the Week of 28 October-3 November 2012

2012-11-08
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  • Smith Travel Research The market’s occupancy fell to 80.5 percent compared with the same time period in 2011. Its average daily rate ended the week down 0.7 percent to US$290.78, and its revenue per available room fell 7.9 percent to US$233.94.

    Year-over-year occupancy for New York fell 7.3% as a result of Superstorm Sandy during the week of 28 October-3 November 2012, according to data from STR. The storm made landfall on Monday, 29 October.

    The market’s occupancy fell to 80.5 percent compared with the same time period in 2011. Its average daily rate ended the week down 0.7 percent to US$290.78, and its revenue per available room fell 7.9 percent to US$233.94.

    “Arguably, the weak demand numbers for hotels in Sandy’s path may have been lifted slightly by stranded travelers and an influx of displaced people, news crews and insurance adjusters,” said Jan Freitag, senior VP of global development at STR. “It is worth noting that despite the evacuation of Lower Manhattan and the loss of power in the greater metro area of NYC, hotels in the area still sold an average eight out of 10 rooms each night.

    “Part of Friday and Saturday’s occupancy results also may have been influenced by New York City Marathon runners who were in town with little advance warning of the cancellation of their big race.”

    Overall, the U.S. hotel industry reported mostly negative results in the three key performance metrics. Occupancy fell 2.5 percent to 57.7 percent, ADR increased 1.2 percent to US$104.40 and RevPAR decreased 1.3 percent to US$60.22.

    In addition to Hurricane Sandy, Halloween also negatively affected the overall U.S. weekly performance, putting a damper on group travel across the U.S. Nationwide occupancies declined 18.4% on Wednesday night alone, Freitag said.

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