STR: U.S. Hotel Performance Decreases While Comparisons Improve

U.S. hotel performance

WASHINGTON—U.S. hotel performance decreased from the previous week, while year-over-year comparisons improved, according to CoStar’s latest data through Jan. 6, 2024.

U.S. Hotel Performance

December 31, 2023-January 6, 2024

Percentage change from comparable week in 2023:
Occupancy: 46.8 percent (down 0.7 percent)
ADR: $152.17 (up 7.2 percent)
RevPAR: $71.28 (up 6.4 percent)

Among the Top 25 Markets, New Orleans saw the largest year-over-year increases in each of the three key performance metrics: occupancy (up 36.5 percent to 61.2 percent), ADR (up 43.5 percent to $211.90), and RevPAR (up 95.9 percent to $129.62). The market’s performance was helped by the Sugar Bowl, FAN EXPO New Orleans, and multiple Mardi Gras parades.

Helped by New Year’s Eve, New York City posted the second-highest gains in ADR (up 33.6 percent to $260.35) and RevPAR (up 49.9 percent to $189.85).

The steepest RevPAR declines were seen in Las Vegas (down 38.3 percent to $124.81) and Dallas (down 18.6 percent to $49.03).

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