U.S. Hotel Performance for Week Ending June 8th
The U.S. hotel industry reported higher performance results from the previous week but mixed comparisons year over year, according to CoStar’s latest data through 8 June.
2-8 June 2024 (percentage change from comparable week in 2023):
- Occupancy: 69.1% (-0.1%)
- Average daily rate (ADR): US$160.90 (+1.8%)
- Revenue per available room (RevPAR): US$111.26 (+1.7%)
Among the Top 25 Markets, Houston saw the highest year-over-year increases in occupancy +14.8% to 71.1%) and RevPAR (+19.3% to US$85.20).
New York City reported the largest lift in ADR (+9.1% to $358.25).
The steepest RevPAR declines were seen in Detroit (-8.7% to US$83.43) and Atlanta (-6.8% to US$85.63).
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.
Categories: Trends