WASHINGTON – 1 February 2024 – U.S. hotel performance increased from the previous week, while year-over-year comparisons remained mixed, according to CoStar’s latest data through 27 January. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.
21-27Â January 2024 (percentage change from comparable week in 2023):
- Occupancy: 56.2% (-0.3%)
- Average daily rate (ADR): US$149.76 (+5.1%)
- Revenue per available room (RevPAR): US$84.13 (+4.8%)
Among the Top 25 Markets, Las Vegas saw the largest year-over-year increases in each of the three key performance metrics: occupancy (+28.9% to 83.4%), ADR (+46.3% to US$228.37) and RevPAR (+88.5% to US$190.42). The market’s performance was driven by the SHOT Show and World of Concrete.
Helped by the AHR Expo, Chicago reported the second-highest jumps in occupancy (+25.5% to 56.8%), ADR (+21.2% to US$140.49) and RevPAR (+52.1% to US$79.74).
The steepest RevPAR declines were seen in Atlanta (-17.6% to US$75.46) and Dallas (-13.4% to US$84.06).
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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.
