Magnuson Hotels outperformed the U.S. hotel market by nearly three times in revenue per available room trends during the second quarter, according to the company’s newly released Q2 report.
Chainwide, the company’s RevPAR dropped 22 percent in June compared to a 60.6 decline year to date in the U.S. So far this year, Magnuson reported a RevPAR drop of 17.8 percent against U.S. industrywide decline of 46.7 percent year to date.
Average room rates in June held higher for Magnuson with a 7.5 percent decline from 2019, compared to U.S. industry average rate fall of 31.5 percent year-to-date.
Despite the pandemic, occupancies held above market at a 13.5 percent reduction in June, compared to a 43 percent industry fall for the U.S., according to the report.
Because the company’s portfolio is spread across secondary, tertiary, rural and highway markets in the U.S., many areas have been less impacted than primary markets dependent upon leisure, corporate and international travel, according to the company.
Magnuson’s midscale business segment moved to a 100 percent focus on serving essential services workers across secondary tertiary, rural and highways markets. Exterior-corridor properties are performing strongly as guests can drive up to their rooms, eliminating interaction with other guests, using elevators or passing through lobbies, according to Magnuson.