CoStar Group | October 24, 2024

WASHINGTON – 24 October 2024 – The U.S. hotel industry reported positive year-over-year comparisons, according to CoStar’s latest data through 19 October. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. 

13-19 October 2024 (percentage change from comparable week in 2023):

  • Occupancy: 70.1% (+1.6)
  • Average daily rate (ADR): US$169.85 (+2.5%)
  • Revenue per available room (RevPAR): US$119.01 (+4.2%) 

Among the Top 25 Markets, Tampa saw the largest occupancy lift (+23.6% to 83.7%), due to continued displacement demand from Hurricane Milton. 

Miami saw the highest increases in ADR (+29.9% to US$245.28) and RevPAR (+35.5% to US$179.72). The market’s performance was driven by Taylor Swift’s Eras Tour and Adobe MAX 2024. 

The steepest RevPAR declines were seen in Las Vegas (-19.5% to US$192.14) and Denver (-12.5% to US$105.98).  

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.