The US hotel industry reported positive year-over-year comparisons, according to CoStar’s latest data through 28 September.
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).
CoStar Group is a leading provider of online real estate marketplaces, information, and analytics in the property markets. Founded in 1987, CoStar Group conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of real estate information. STR provides premium data benchmarking, analytics, and marketplace insights for the global hospitality industry.
