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Chicago posted the largest lift in ADR (+13.8% to US$188.95). – Image Credit Unsplash+
The U.S. hotel industry reported positive comparisons year over year, according to CoStar’s latest data through 10 August.
4-10 August 2024 (percentage change from comparable week in 2023):
- Occupancy: 68.7% (+0.5%)
- Average daily rate (ADR): US$159.49 (+1.4%)
- Revenue per available room (RevPAR): US$109.51 (+1.9%)
Among the Top 25 Markets, Houston saw the highest year-over-year increases in occupancy (+31.1% to 76.3%) and RevPAR (+47.2% to US$93.89).
Chicago posted the largest lift in ADR (+13.8% to US$188.95).
The steepest RevPAR declines were seen in Los Angeles (-12.2% to US$161.66) and Dallas (-11.3% to US$66.30).
CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. For more information about the company and its products and services, please visit www.costargroup.com.