Finance & DevelopmentCoStar: Memorial Day Impacts U.S. Weekly Hotel Performance

CoStar: Memorial Day Impacts U.S. Weekly Hotel Performance

WASHINGTON—Due to Memorial Day, the U.S. hotel industry reported lower performance results from the previous week but slightly positive comparisons year over year, according to CoStar’s latest data through June 1, 2024.

U.S. Hotel Performance

May 26-June 1, 2024

Percentage change from comparable week in 2023:
Occupancy: 62.0 percent (up 0.9 percent)
ADR: $150.87 (up 0.1 percent)
RevPAR: $93.50 (up 1.0 percent)

Among the Top 25 Markets, New Orleans saw the highest year-over-year occupancy lift (up 17.8 percent to 66.8 percent).

Las Vegas reported the largest increase in ADR (up 7.4 percent to $177.13).

Dallas reported the largest jump in RevPAR (up 22.5 percent to $86.07) and the second-highest increase in ADR (up 6.9 percent to $120.55). Severe storms in the market drove performance after many residents were left without power.

The steepest RevPAR declines were seen in Washington, D.C. (down 10.3 percent to $105.24) and Denver (down 7.6 percent to $93.92).