CoStar Group | August 02, 2024

WASHINGTON – 2 August 2024 – The U.S. hotel industry reported lower performance results than the previous week and mixed comparisons year over year, according to CoStar’s latest data through 27 July. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. 

21-27 July 2024 (percentage change from comparable week in 2023):

  • Occupancy: 72.0% (-0.4%)
  • Average daily rate (ADR): US$164.45 (+1.3%)
  • Revenue per available room (RevPAR): US$118.37 (+0.9%) 

Among the Top 25 Markets, New Orleans saw the highest year-over-year occupancy increase (+16.9% to 66.7%). 

San Diego posted the largest lift in ADR (+12.0% to US$294.80). 

The steepest RevPAR decline was seen in Nashville (-24.2% to US$128.78), due to a comparison against George Strait concert dates (28-29 July 2023). 

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 83,000 properties and 10.8 million rooms around the globe. Members of the media should refer to the contacts listed below for additional data requests.