STR’s latest 51-chart demand map through 13 March 2021 shows that most states are moving closer to their levels from the same time last year. Unfortunately, those demand levels from comparable periods in 2020 were lowered substantially by the earliest pandemic lockdowns.
A clear majority of states have made solid progress in shrinking the tremendous demand deficits that developed during the worst times of the pandemic. However, current bookings shortfalls from pre-pandemic times remain significant, particularly in a handful of states dominated by the largest urban markets.
As noted in our new Market Recovery Monitor, year-over-year comparisons are less actionable since we have reached the one-year anniversary of the pandemic. Thus in the coming weeks, we will shift this map to compare with 2019, which will allow industry observers to make better sense of recovery patterns.
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. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.