Finance & DevelopmentCoStar: U.S. Hotel Performance Reflects Mixed Results

CoStar: U.S. Hotel Performance Reflects Mixed Results

WASHINGTON—U.S. hotel performance showed mixed results over the previous week, according to CoStar’s latest data through Feb. 24, 2024.

U.S. Hotel Performance

February 18-24, 2024

Percentage change from comparable week in 2023:
Occupancy: 62.0 percent (down 3.3 percent)
ADR: $156.62 (up 0.3 percent)
RevPAR: $97.12 (down 2.9 percent)

Among the Top 25 Markets, Minneapolis reported the largest year-over-year occupancy increase (up 4.5 percent to 47.8 percent).

Las Vegas (up 7.5 percent to $203.52) and Oahu Island (up 7.5 percent to $303.54) matched for the highest ADR growth.

The steepest RevPAR declines were seen in New Orleans (down 22.1 percent to $128.09) and Nashville (down 20.2 percent to $104.30). The Mardi Gras calendar shift affected New Orleans’ performance.