Data & Research
The Highland Group Releases October 2020 Performance Extended-Stay Hotels
Average occupancy for extended-stay hotels was 68.2% in October 2020 compared to 48.3% STR reported for all hotels. For the past 20 years extended-stay hotel occupancy has been 10 to 15 points above the overall hotel industry. Since the pandemic started, except for June 2020, the extended-stay hotel occupancy premium has ranged from 18 to 20 percentage points.
“The extended-stay hotel occupancy premium above all hotels tends to be widest during contractionary periods but the size of the premium during most of the 2020 downturn is unprecedented ” says Mark Skinner, Partner at The Highland Group.