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STR Weekly Insights: 13-19 October 2024
CoStar Group | October 25, 2024
Analysis by Isaac Collazo, Will Anns Highlights Hurricane recovery, college football, Taylor Swift and more lift U.S. RevPAR Strong RevPAR growth seen in Northeastern U.S. hotels Global performance unwavering In the week ending 19 October 2024, U.S. revenue per available room (RevPAR) advanced 4.2% on 2.5 growth in average daily rate (ADR) and a 1.1 percentage point (ppt) increase in occupancy. RevPAR growth in the Top 25 Markets trailed slightly versus the remaining markets, which saw ongoing demand and ADR gains from areas impacted by Hurricanes Helene and Milton. Additionally, Taylor Swift’s tour stop and the Ado...
Rio de Janeiro’s Room Rates Jumped to Eight-Year High Thanks to Rock in Rio
CoStar Group | October 17, 2024
WASHINGTON – 17 October 2024 – Boosted by the Rock in Rio music festival, Rio de Janeiro’s hotel industry reached its highest monthly average daily rate (ADR) and revenue per available room (RevPAR) in eight years, according to September preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets. September 2024 (year-over-year % change): Occupancy: 71.5% (+10.3%) ADR: BRL907.20 (+35.5%) RevPAR: BRL648.33 (+49.4%) The only month with higher ADR and RevPAR in Rio was August 2016 during the Summer Olympics. The first night of the R...
U.S. Hotel Results for Week Ending 12 October
CoStar Group | October 17, 2024
WASHINGTON – 17 October 2024 – Helped by the Columbus Day/Indigenous Peoples' Day calendar shift, the U.S. hotel industry reported positive year-over-year comparisons, according to CoStar’s latest data through 12 October. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. 6-12 October 2024 (percentage change from comparable week in 2023): Occupancy: 70.3% (+2.4%) Average daily rate (ADR): US$166.88 (+1.4%) Revenue per available room (RevPAR): US$117.28 (+3.8%) Among the Top 25 Markets, New Orleans saw the largest performance lifts across each of ...
Events Pushed Brisbane Hotel Performance to September Highs
CoStar Group | October 17, 2024
WASHINGTON – 17 October 2024 – Events pushed Brisbane hotel average daily rate (ADR) and revenue per available room (RevPAR) to all-time highs for September, according to preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets. September 2024 (year-over-year % change): Occupancy: 78.5% (+3.3%) ADR: AUD236.64 (+1.7%) RevPAR: AUD185.82 (+5.0%) Noteworthy nights for hotels occurred during the Brisbane Festival, Brisbane Lions elimination AFL final, and consistent events at the Convention Centre. On Saturday, 7 September...
Berlin Hotels Posted All-Time High Performance for September
CoStar Group | October 16, 2024
WASHINGTON – 16 October2024 – The 2024 International Trade Fair for Transport Technology (InnoTrans) pushed Berlin’s monthly average daily rate (ADR) and revenue per available room (RevPAR) to all-time highs, according to September preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets. September 2024 (year-over-year % change): Occupancy: 85.4% (+1.4%) ADR: EUR177.49 (+18.4%) RevPAR: EUR151.60 (+20.1%) In addition to the monthly records in ADR and RevPAR, Berlin’s occupancy was at its highest point since Septe...
Berlin Hotel Room Rates Jumped During an Eventful July
CoStar Group, Inc. | August 14, 2024
WASHINGTON – 14 August 2024 – Boosted by three key events, Berlin’s hotel industry posted its highest July levels in average daily rate (ADR) and revenue per available room (RevPAR), according to preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets. July 2024 (year-over-year % change): Occupancy: 77.9% (-0.1%) ADR: EUR136.94 (+17.3%) RevPAR: EUR106.73 (+17.2%) The 14 July final of the UEFA European Football Championship between Spain and England pushed the market’s ADR to EUR353.56 (+171.4% year over year) and RevPAR to E...
U.S. Hotel Results for Week Ending 27 July
CoStar Group | August 2, 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%). ...
U.S. Hotel Results for Week Ending 22 June
CoStar Group | June 28, 2024
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. 16-22 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...
