U.S. Hotel Performance for Week Ending August 24th
The U.S. hotel industry reported positive comparisons year over year, according to CoStar’s latest data through 24 August.
18-24 August 2024 (percentage change from comparable week in 2023):
- Occupancy: 66.1% (+1.7%)
- Average daily rate (ADR): US$154.80 (+2.7%)
- Revenue per available room (RevPAR): US$102.30 (+4.5%)
Among the Top 25 Markets, Houston saw the highest year-over-year occupancy lift (+31.7% to 76.1%).
Driven by the Democratic National Convention, Chicago posted the largest increases in ADR (+41.8% to US$215.60) and RevPAR (+51.1% to US$156.32). The market’s occupancy rose 6.5% to 72.5%.
The steepest RevPAR declines were seen in Las Vegas (-14.2% to US$112.09) and Nashville (-11.3% to US$96.11).
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