As a result of the coronavirus (COVID-19) pandemic the hotel industry taken a hit in 2020. In May 2020, the revenue per available room (RevPAR) in Europe saw the most dramatic effects of the virus, dropping to 11.35 U.S. dollars - compared to the previous year this figure dropped by 85.33 U.S. dollars.
RevPAR
Revenue per available room (RevPAR) is typically calculated by multiplying a hotel's average daily room rate (ADR) by its occupancy rate. The RevPAR generated by European hotels was about 93.71 U.S. dollars on average in 2019. In comparison, the Asia Pacific region generated the lowest RevPAR accounting for approximately 68 U.S. dollars per available room.
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hotelnewsnow.com. (June 17, 2020). Monthly hotel revenue per available room worldwide from 2018 to 2020, by region (in U.S. dollars) [Graph]. In Statista. Retrieved August 24, 2024, from https://www.statista.com/statistics/206844/hotel-revpar-by-region-worldwide/
hotelnewsnow.com. "Monthly hotel revenue per available room worldwide from 2018 to 2020, by region (in U.S. dollars)." Chart. June 17, 2020. Statista. Accessed August 24, 2024. https://www.statista.com/statistics/206844/hotel-revpar-by-region-worldwide/
hotelnewsnow.com. (2020). Monthly hotel revenue per available room worldwide from 2018 to 2020, by region (in U.S. dollars). Statista. Statista Inc.. Accessed: August 24, 2024. https://www.statista.com/statistics/206844/hotel-revpar-by-region-worldwide/
hotelnewsnow.com. "Monthly Hotel Revenue per Available Room Worldwide from 2018 to 2020, by Region (in U.S. Dollars)." Statista, Statista Inc., 17 Jun 2020, https://www.statista.com/statistics/206844/hotel-revpar-by-region-worldwide/
hotelnewsnow.com, Monthly hotel revenue per available room worldwide from 2018 to 2020, by region (in U.S. dollars) Statista, https://www.statista.com/statistics/206844/hotel-revpar-by-region-worldwide/ (last visited August 24, 2024)
Monthly hotel revenue per available room worldwide from 2018 to 2020, by region (in U.S. dollars) [Graph], hotelnewsnow.com, June 17, 2020. [Online]. Available: https://www.statista.com/statistics/206844/hotel-revpar-by-region-worldwide/