The US hotel industry reported lower performance results month over month.
January 2024 (percentage change from January 2023):
- Occupancy: 51.9% (-1.7%)
- Average daily rate (ADR): US$146.33 (+2.7%)
- Revenue per available room (RevPAR): US$75.99 (+0.9%)
Among the Top 25 Markets, Oahu Island experienced the highest occupancy level (79.0%), which was up 6.2% year over year.
Markets with the lowest occupancy for the month included Minneapolis (40.7%) and St. Louis (43.7%).
The Top 25 Markets showed higher occupancy and ADR than all other markets.
STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit www.str.com
