U.S. Hotels Report Higher Month-Over-Month Performance for February 2024

March 19, 2024

A blue and white house surrounded by surfboards - Photo by Abigail Lynn on Unsplash

Among the Top 25 Markets, Oahu Island experienced the highest occupancy level (84.0%), which was up 6.6% year over year.

The U.S. hotel industry reported higher performance results month over month, according to February 2024 data from CoStar.

February 2024 (percentage change from February 2023):

  • Occupancy: 58.9% (-1.8%)
  • Average daily rate (ADR): US$158.23 (+3.9%)
  • Revenue per available room (RevPAR): US$93.19 (+2.0%)

Among the Top 25 Markets, Oahu Island experienced the highest occupancy level (84.0%), which was up 6.6% year over year.

Helped by Super Bowl LVIII, Las Vegas reported the highest ADR (+61.9% to US$301.35) and RevPAR (+69.9% to US$247.44) levels.

Markets with the lowest occupancy for the month included Minneapolis (46.1%) and Chicago (49.4%).

The Top 25 Markets showed higher occupancy and ADR than all other markets.

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.

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