WASHINGTON – 16 May 2024 – The U.S. hotel industry reported higher performance from the previous week and positive comparisons year over year, according to CoStar’s latest data through 11 May. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.
5-11Â May 2024 (percentage change from comparable week in 2023):
- Occupancy: 66.1% (+2.1%)
- Average daily rate (ADR): US$162.14 (+4.4%)
- Revenue per available room (RevPAR): US$107.24 (+6.6%)
Among the Top 25 Markets, San Francisco reported the highest year-over-year increases in each of the three key performance metrics: occupancy (+20.6% to 79.3%), ADR (+54.5% to US$313.13) and RevPAR (+86.3% to US$248.28). The market’s performance was lifted by the RSA Conference.
Orlando, helped by NPE2024, saw the second-largest lifts in occupancy (+18.6% to 75.7%) and RevPAR (+28.9% to US$160.81).
The steepest RevPAR declines were seen in Philadelphia (-27.1% to US$101.16) and Nashville (-9.2% to US$133.09).
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Additional Performance Data
CoStar’s world-leading hotel performance sample comprises 81,000 properties and 10.5 million rooms around the globe. Members of the media should refer to the contacts listed below for additional data requests.
