Due to the Veteran’s Day calendar shift, the U.S. hotel industry reported mixed year-over-year performance comparisons, according to CoStar’s latest data through 16 November. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.
10-16 November 2024 (percentage change from comparable week in 2023):
- Occupancy: 63.3% (+1.5%)
- Average daily rate (ADR): US$154.96 (-1.1%)
- Revenue per available room (RevPAR): US$98.11 (+0.4%)
Among the Top 25 Markets, Tampa saw the largest increases across each of the three key performance metrics: occupancy (+30.3% to 87.2%), ADR (+17.4% to US$176.73) and RevPAR (+52.9% to US$154.16). The market’s performance was due to continued displacement demand from Hurricane Milton.
The steepest RevPAR declines were seen in Las Vegas (-47.1% to US$136.28) and San Francisco (-27.8% to US$139.74). Las Vegas’ performance was impacted by the Formula 1 calendar shift.
For more information about the company and its products and services, please visit www.costargroup.com.
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