CoStar Group | October 17, 2024

WASHINGTON – 17 October 2024 – Helped by the Columbus Day/Indigenous Peoples’ Day calendar shift, the U.S. hotel industry reported positive year-over-year comparisons, according to CoStar’s latest data through 12 October. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. 

6-12 October 2024 (percentage change from comparable week in 2023):

  • Occupancy: 70.3% (+2.4%)
  • Average daily rate (ADR): US$166.88 (+1.4%)
  • Revenue per available room (RevPAR): US$117.28 (+3.8%) 

Among the Top 25 Markets, New Orleans saw the largest performance lifts across each of the three key performance metrics: occupancy (+20.1% to 75.6%), ADR (+13.1% to US$194.70) and RevPAR (+35.9% to US$147.18). The market’s performance was driven by the Water Environment Federation’s Technical Exhibition and Conference.

Atlanta saw the second-highest increases in occupancy (+15.6% to 77.5%) and RevPAR (+20.6% to US$102.59), due to displacement demand from Hurricane Milton. 

The steepest RevPAR declines were seen in Oahu Island (-10.3% to US$218.20) and Tampa (-9.8% to US$88.67), the latter due to the impacts of Hurricane Milton. 

STR’s Weekly Insights Blog, which will be published on Friday, will include analysis of the Hurricane Milton impact and continued effects of Hurricane Helene. 

For more information about the company and its products and services, please visit www.costargroup.com. 

Additional Performance Data
CoStar’s world-leading hotel performance sample comprises 85,000 properties and 11 million rooms around the globe. Members of the media should refer to the contacts listed below for additional data requests.