Virginia hotel revenues for January 2021 were down 27% compared with January 2020, continuing the industry’s slow climb back to recovering from the economic impact of the coronavirus pandemic, according to data released Thursday from STR Inc., a CoStar Group division that provides market data on the U.S. hospitality industry.
For the same period, rooms sold declined by 14%. The average daily rate (ADR) paid for hotel rooms dropped 15% to $82.56, while revenue per available room (RevPAR) fell to $34.84, a 27% decline.
“Performance of the hotels in the commonwealth during January 2021 was in general better than December 2020,” said Professor Vinod Agarwal of Old Dominion University’s Dragas Center for Economic Analysis and Policy in a statement released Monday. “COVID-19 continues to adversely impact this industry.”
