The U.S. hotel industry reported higher performance results than the previous week and positive comparisons year over year, according to CoStar’s latest data through 20 July. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.
14-20 July 2024 (percentage change from comparable week in 2023):
- Occupancy: 73.5% (+1.0%)
- Average daily rate (ADR): US$165.91 (+2.4%)
- Revenue per available room (RevPAR): US$122.02 (+3.4%)
The U.S. RevPAR level was the highest for any week on record.
Among the Top 25 Markets, Houston saw the highest year-over-year increases in each of the three key performance metrics: occupancy (+29.6% to 82.2%), ADR (+20.3% to US$135.65) and RevPAR (+56.0% to US$111.49). The market’s performance was impacted by the effects of Hurricane Beryl.
The steepest RevPAR declines were seen in San Francisco (-14.1% to US$140.09) and Seattle (-12.4% to US$195.52).
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