WASHINGTON – 28 June 2024 – The U.S. hotel industry reported lower performance results from the previous week and mixed comparisons year over year, according to CoStar’s latest data through 22 June. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.
16-22Â June 2024 (percentage change from comparable week in 2023):
- Occupancy: 69.5% (-2.5%)
- Average daily rate (ADR): US$159.88 (+0.1%)
- Revenue per available room (RevPAR): US$111.17 (-2.3%)
Among the Top 25 Markets, Seattle saw the highest year-over-year increases in occupancy (+11.1% to 84.9%) and RevPAR (+16.8% to US$179.47).
Philadelphia posted the largest lift in ADR (+6.5% to US$170.10).
The steepest RevPAR declines were seen in San Francisco (-24.0% to US$111.18) and New Orleans (-21.8% to US$68.40).
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Additional Performance Data
CoStar’s world-leading hotel performance sample comprises 82,000 properties and 10.7 million rooms around the globe. Members of the media should refer to the contacts listed below for additional data requests.
