CoStar Group | October 03, 2024

WASHINGTON – 3 October 2024 – The U.S. hotel industry reported positive year-over-year comparisons, according to CoStar’s latest data through 28 September. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. 

22-28 September 2024 (percentage change from comparable week in 2023):

  • Occupancy: 68.4% (+2.6%)
  • Average daily rate (ADR): US$170.24 (+7.5%)
  • Revenue per available room (RevPAR): US$116.50 (+10.2%) 

Among the Top 25 Markets, New York City saw the highest year-over-year increases in each of the key performance metrics: occupancy (+11.4% to 93.2%), ADR (+52.8% to US$523.69) and RevPAR (+70.1% to US$488.32). The market’s performance was driven by the United Nations General Assembly. 

The steepest RevPAR declines were seen in San Francisco (-17.6% to US$177.81) and Nashville (-5.5% to US$136.06). 

STR’s Weekly Insights Blog, which will be published on Friday, will include preliminary analysis of the Hurricane Helene impact. Data processed in the coming weeks will show the larger impact on markets in the southeast. 

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.