As expected with Passover, U.S. hotel performance came in lower than the previous week and comparable period last year, according to CoStar’s latest data through 27 April. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.
21-27 April 2024 (percentage change from comparable week in 2023):
- Occupancy: 65.7% (-1.2%)
- Average daily rate (ADR): US$154.44 (-1.3%)
- Revenue per available room (RevPAR): US$101.42 (-2.5%)
Among the Top 25 Markets, Seattle reported the only double-digit increase in occupancy (+15.6% to 74.6%). Detroit, host of the NFL Draft, posted the highest jump in both ADR (+21.8% to US$147.83) and RevPAR (+25.6% to US$94.74).
The steepest declines in each of the three key performance metrics were seen in San Francisco/San Mateo: occupancy (-16.7% to 67.5%), ADR (-37.3% to US$190.91), and RevPAR (-47.7% to US$128.79).
For more information about the company and its products and services, please visit www.costargroup.com.
