Finance & DevelopmentCoStar: U.S. Hotel Performance Increases Yet Comparisons Remain Mixed

CoStar: U.S. Hotel Performance Increases Yet Comparisons Remain Mixed

WASHINGTON—U.S. hotel performance increased from the previous week, while year-over-year comparisons remained mixed, according to CoStar’s latest data through Feb. 10, 2024.

U.S. Hotel Performance

February 4-10, 2024

Percentage change from the comparable week in 2023:
Occupancy: 56.2 percent (down 2.7 percent)
ADR: $160.96 (up 6.8 percent)
RevPAR: $90.40 (up 3.9 percent)

Among the Top 25 Markets, Oahu Island saw the largest increase in occupancy (up 8.0 percent to 82.9 percent).

In its Super Bowl host week, Las Vegas reported the highest jumps in ADR (up 126.1 percent to $445.05) and RevPAR (up 139.9 percent to $335.61). Weekly occupancy grew 6.1 percent to 75.4 percent. On Friday and Saturday nights, Las Vegas’ occupancy topped 80 percent, and ADR ballooned to more than $700.

Although Phoenix hosted the WM Open, the market reported the steepest RevPAR decline (down 33.9 percent to $198.13) because of its comparison to its Super Bowl host period last year.