The U.S. hotel industry reported record-high average daily rate (ADR) and revenue per available room (RevPAR), but the country’s growth rate was its lowest since the declines of 2020, according to CoStar’s 2024 year-end data. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.
2024 (percentage change from 2023):
- Occupancy: 63.0% (flat)
- Average daily rate (ADR): US$158.67 (+1.7%)
- Revenue per available room (RevPAR): US$99.94 (+1.8%)
Among the Top 25 Markets, New York City experienced the highest occupancy level (+3.3% to 84.3%).
Markets with the lowest occupancy for the year included St. Louis (58.1%), Minneapolis (58.7%) and Detroit (59.1%).
The Top 25 Markets showed higher occupancy and ADR than all other markets. Markets outside the Top 25 saw a 0.5% decline in occupancy.
For more information about the company and its products and services, please visit www.costargroup.com.
