U.S. Hotel Performance for Week Ending July 27th
The U.S. hotel industry reported lower performance results than the previous week and mixed comparisons year over year, according to CoStar’s latest data through 27 July.
21-27 July 2024 (percentage change from comparable week in 2023):
- Occupancy: 72.0% (-0.4%)
- Average daily rate (ADR): US$164.45 (+1.3%)
- Revenue per available room (RevPAR): US$118.37 (+0.9%)
Among the Top 25 Markets, New Orleans saw the highest year-over-year occupancy increase (+16.9% to 66.7%).
San Diego posted the largest lift in ADR (+12.0% to US$294.80).
The steepest RevPAR decline was seen in Nashville (-24.2% to US$128.78), due to a comparison against George Strait concert dates (28-29 July 2023).
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