Metro Orlando occupancy for the week ending June 10, 2023, was 67.4%, down from last week's 63.3% and down 7.6% from the same week last year. The Average Daily Rate for the week was $183.28, down 1.3% from last year.
The softening continues to be more pronounced in the leisure segment. Advance hotel bookings are pointing at about a 5% lag in transient (leisure) pace for the summer period from last year's strong performance. Diminished pent-up demand, high travel prices, and elevated competition could all contribute to shifts in leisure travel trends this year. Speaking of competition, U.S. Citizen departures to international regions, including Canada and Mexico air, have exceeded the same time period in 2019 through May 2023.
Group bookings, on the other hand, continue to pace ahead of last year, balancing out softer leisure demand and smoothing out weekday valleys.