The U.S. hotel industry reported positive year-over-year performance comparisons, according to CoStar’s latest data through 21 December. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.
Growth was elevated due to the Hannukah calendar shift as well as the compressed business travel period between Thanksgiving and Christmas. As expected, actual levels were significantly lower than the prior week because of the seasonal slowdown.
15-21 December 2024 (percentage change from comparable week in 2023):
- Occupancy: 48.9% (+11.4%)
- Average daily rate (ADR): US$135.79 (+2.7%)
- Revenue per available room (RevPAR): US$66.36 (+14.3%)
Among the Top 25 Markets, Tampa reported the largest year-over-year increases in occupancy (+37.9% to 71.5%) and RevPAR (+63.8% to US$110.51). The market has been among the national performance growth leaders in recent months due in part to hurricane recovery demand.
New York City once again reported the highest ADR lift (+20.1% to US$351.39).
Oahu Island was the only major market with decreases in each of the three key metrics: occupancy (-4.0% to 66.4%), ADR (-16.7% to US$259.60) and RevPAR (-20.0% to US$172.27).
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