STR: Hurricane Dorian takes its toll on Florida demand
 
STR: Hurricane Dorian takes its toll on Florida demand
17 SEPTEMBER 2019 9:12 AM

Coastal markets in Florida, Georgia and South Carolina reported steep demand declines between 30 August and 5 September in response to the threat of Hurricane Dorian.

BROOMFIELD, Colorado—Most key hotel markets in Florida, especially those in coastal areas, saw significant demand declines as Hurricane Dorian threatened the southeastern seaboard, according to an analysis from STR’s Consulting & Analytics team. Demand losses around Dorian were greater for Florida markets than those recorded in the Carolinas.

For the purpose of its analysis, STR focused on markets in the states most associated with the storm: Florida, Georgia, South Carolina and North Carolina. The analysis factored the extended Labor Day weekend as well as a comparable period from last year that would have been affected by Hurricane Florence.

For the seven-day period of 30 August through 5 September, the Florida Keys (-50.1%) reported the largest demand decline followed by Daytona Beach, Florida (-37.4%); Savannah, Georgia (-30.4%); and Myrtle Beach, South Carolina (-30.0%). The largest increases in the metric came in Macon/Warner Robins, Georgia (+49.5%), and Augusta, Georgia (+27.6%).

Demand percent change compared with same day in 2018 (Click chart to expand)
 

“Such a demand shift is consistent with historical trends around hurricanes as residents typically flee the path of storms and head to evacuation zones,” said Alison Hoyt, STR’s senior director of consulting & analytics. “Additionally, Labor Day demand increases in most of the markets were due to lower performance last year as opposed to higher performance this year. Performance levels during the comparable week in 2018 were significantly affected by Hurricane Florence.”

Changes in revenue per available room (RevPAR), the industry standard metric, reflected the fluctuations in demand. The Florida Keys (-59.4%) and Daytona Beach (-47.0%) reported the steepest declines in the metric. Macon/Warner Robins (+79.4%) and Augusta (+42.9%) posted the largest gains.

RevPAR percent change compared with same day in 2018 (Click chart to expand)
 

“The long-term performance impact from hurricanes is largely dependent on length of storm and the amount of damage,” Hoyt said. “Ultimately, the number of residents in need of extended lodging because of damage to their homes dictates changes in hotel performance. Fortunately with Dorian, reports suggest that most U.S. markets avoided large-scale destruction, especially when you consider the devastation in the Bahamas, so we don’t expect an extended impact in the U.S. data.”

Additional Performance Data
Are you a member of the media looking for performance data for a hotel market not included in this release? STR’s sample comprises more than 65,000 hotels and 8.8 million hotel rooms around the globe. Please refer to the contacts listed below for additional data requests.

About STR
STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. For more information, please visit str.com.

North America Media Contacts:

Nick Minerd
Senior Director, Communications
nminerd@str.com
+1 (615) 824-8664 ext. 3305

Haley Luther
Communications Coordinator
hluther@str.com
+1 (615) 824-8664 ext. 3500

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