WASHINGTON—The U.S. hotel industry reported improved performance results from the previous month, according to May 2024 data from CoStar.
May 2024
Percentage change from May 2023:
Occupancy: 65.7 percent (up 1.5 percent)
ADR: $160.40 (up 2.4 percent)
RevPAR: $105.46 (up 4.0 percent)
Among the Top 25 Markets, New York City experienced the highest levels in each of the three key performance metrics: occupancy (up 5.8 percent to 88.9 percent), ADR (up 6.3 percent to $339.25), and RevPAR (up 12.5 percent to $301.57).
Markets with the lowest occupancy for the month included Detroit (61.0 percent) and Minneapolis (61.5 percent).
The Top 25 Markets showed higher occupancy and ADR than all other markets.
