Home Hospitality U.S. Hotel Performance Reflects Mixed Results

U.S. Hotel Performance Reflects Mixed Results

WASHINGTON—U.S. hotel performance showed mixed results over the previous week, according to CoStar’s latest data through Feb. 24, 2024.

U.S. Hotel Performance

February 18-24, 2024

Percentage change from comparable week in 2023:
Occupancy: 62.0 percent (down 3.3 percent)
ADR: $156.62 (up 0.3 percent)
RevPAR: $97.12 (down 2.9 percent)

Among the Top 25 Markets, Minneapolis reported the largest year-over-year occupancy increase (up 4.5 percent to 47.8 percent).

Las Vegas (up 7.5 percent to $203.52) and Oahu Island (up 7.5 percent to $303.54) matched for the highest ADR growth.

The steepest RevPAR declines were seen in New Orleans (down 22.1 percent to $128.09) and Nashville (down 20.2 percent to $104.30). The Mardi Gras calendar shift affected New Orleans’ performance.

Source link