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U.S. Hotel Performance for Week Ending February 17th

Las Vegas - Unsplash

Thanks to Super Bowl LVIII, Las Vegas reported the highest jumps in ADR (+76.7% to US$318.88) and RevPAR (+81.4% to US$257.72). Weekly occupancy grew 2.7% to 80.8%. On Sunday night, Las Vegas occupancy topped 80%, and ADR reached higher than US$800.

U.S. hotel performance increased from the previous week, while year-over-year comparisons remained mixed, according to CoStar’s latest data through 17 February.

11-17 February 2024 (percentage change from comparable week in 2023):

Among the Top 25 Markets, Boston (+14.6% to 64.7%) and New Orleans (+14.6% to 75.7%) matched for the largest increase in occupancy. Mardi Gras drove New Orleans’ occupancy increase.

Thanks to Super Bowl LVIII, Las Vegas reported the highest jumps in ADR (+76.7% to US$318.88) and RevPAR (+81.4% to US$257.72). Weekly occupancy grew 2.7% to 80.8%. On Sunday night, Las Vegas occupancy topped 80%, and ADR reached higher than US$800.

Phoenix reported the steepest RevPAR decline (-21.6% to US$173.63) because of comparison to its Super Bowl host period last year.  

CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. For more information about the company and its products and services, please visit www.costargroup.com.

Posted by on February 22, 2024.

Categories: Trends

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