Occupancy for New York Fell 7.3% As a Result of Superstorm Sandy During the Week of 28 October-3 November 2012
The markets 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.
- Positive Results for US Hotel Industry for Week Ending July 25th - 2015
- Positive Performance Metrics for Canadian Hotel Industry Week Ending 25July 2015
- Positive Performance Metrics for Canadian Hotel Industry Week Ending 18 July 2015
- US Hotel Occupancy Up 1.6% to 69.1% During Second Quarter 2015
- Canadian Hotels Report 4.5% Increase in RevPAR During Second Quarter 2015
- Americans Are Divided on How They Rate the Job Market in Their Region
- U.S. June Jobless Rates Down over the Year in 351 of 387 Metro Areas - Payroll Jobs Up in 317
- Uniform System Of Accounts For The Lodging Industry - Financial Ratios And Operating Metrics - By Agnes L. DeFranco
- HVS Market Report - Central Florida Hotel Market: Orlando's Transformation - By Donald C. Stephens Jr. and Natalie Pierce
- U.S. Gross Job Gains 7.6 Million and Gross Job Losses 6.5 Million in the 4th Quarter of 2014