The U.S. hotel industry reported positive year-over-year comparisons, according to CoStar’s latest data through 2 November. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.
27 October – 2 November 2024 (percentage change from comparable week in 2023):
Occupancy: 60.8% (+1.9%)
Average daily rate (ADR): US$154.99 (+1.2%)
Revenue per available room (RevPAR): US$94.22 (+3.1%)
Among the Top 25 Markets, Tampa saw the largest occupancy lift (+34.7% to 80.5%), due to continued displacement demand from Hurricane Milton.
New Orleans saw the highest increases in ADR (+27.7% to US$222.51) and RevPAR (+53.3% to US$169.73). The market’s performance was driven by Taylor Swift’s Eras Tour and the Annual ANCC Magnet and Pathway to Excellence Conference.
The steepest RevPAR declines were seen in Las Vegas (-28.8% to US$151.47) and San Francisco (-14.9% to US$123.16).
For more information about the company and its products and services, please visit www.costargroup.com.
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