According to STR, the five U.S. states in the
path of Hurricane Matthew saw a net hotel room revenue loss of
approximately US$50 million during the days of and around the
For the purpose of its Hurricane Matthew
analysis, STR examined the hotel room revenue impact in Florida,
Georgia, North Carolina, South Carolina and Virginia.
“When looking at the net impact on hotel demand
and rates, the story was very similar to what we saw when
Hurricane Sandy hit in late 2012,” said Steve Hennis, STR’s VP of
consulting and analytics. “Unfortunately, the overall loss will be
higher once you factor in future lost business as a result of the
extensive damage and renovations that many hotels will require
prior to reopening.”
The major markets most affected were Orlando,
Florida (-14.5 million); Miami/Hialeah, Florida (-13.6 million);
and Charleston, South Carolina (-9.6 million).
The submarkets most affected were Miami Beach,
Florida (-10.2 million), and Charleston/West Ashley, South
Carolina (-7.3 million).
The most affected day was Friday, 7 October.
“There also were many submarkets that saw
positive gains as hotels catered to evacuees, stranded visitors,
emergency management personnel and the media,” Hennis said.
Those submarkets included: Tampa CBD/Airport,
Florida (+2.7 million); Georgia South Area (+2.1 million);
Greenville, South Carolina (+1.5 million); North Carolina
Southeast Area (+1.5 million); and Charlotte CBD/Airport, North
Carolina-South Carolina (+1.4 million).
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