Post by
Zoolanders21 on Jul 01, 2021 4:56pm
Occupancy Rates & ADR Continue to improve
See below links to the weekly occupancy and ADR data through June 26. Best week since the start of the pandemic and not far off comparable 2019 period. As i mentioned in another post AHIP typically outperforms the US avg and an insider I know confirmed that the recovey is beyond their expectations. The second article shows that despite how things are quickly improving ... labour costs are remaining flat. This is mainly due to no daily room cleaning, only cleans before and after stays, not as much staff shortages as the articel suggests. This will continue to help the numbers and overall NOI. Looking forward to Q2 results in early August. GLTS
https://str.com/press-release/str-us-hotel-results-week-ending-26-june
https://str.com/press-release/us-hotel-profit-improved-to-70-percent-of-2019-level