WASHINGTON—The U.S. hotel industry reported higher performance results from the previous week and positive comparisons year over year, according to CoStar’s latest data through June 29, 2024.
U.S. Hotel Performance
June 23-29, 2024
Percentage change from comparable week in 2023:
Occupancy: 71.9 percent (up 3.2 percent)
ADR: $162.81 (up 3.6 percent)
RevPAR: $117.13 (up 6.9 [ercent)
Among the Top 25 Markets, Minneapolis saw the highest year-over-year increases in each of the three key performance metrics: occupancy (up 20.1 percent to 74.8 percent), ADR (up 15.7 percent to $150.42), and RevPAR (up 39.0 percent to $112.46). The market’s performance was helped by the U.S. Olympic Gymnastics Trials and the Twin Cities Pride Parade.
The steepest RevPAR declines were seen in New Orleans (down 30.6 percent to $82.54), Denver (down 8.2 percent to $159.00), and Philadelphia (down 8.2 percent to $110.22)
