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Among the Top 25 Markets, Houston saw the highest year-over-year increases in occupancy (+28.1% to 75.8%) and RevPAR (+45.7% to US$93.88). – Image Credit Unsplash+
The U.S. hotel industry reported slightly positive comparisons year over year, according to CoStar’s latest data through 3 August.
28 July through 3 August 2024 (percentage change from comparable week in 2023):
- Occupancy: 69.4% (+0.8%)
- Average daily rate (ADR): US$159.63 (+0.6%)
- Revenue per available room (RevPAR): US$110.84 (+1.3%)
Among the Top 25 Markets, Houston saw the highest year-over-year increases in occupancy (+28.1% to 75.8%) and RevPAR (+45.7% to US$93.88).
Houston (+13.7% to US$123.82) and Philadelphia (+13.7% to US$161.02) matched for the largest lift in ADR.
The steepest RevPAR declines were seen in Anaheim (-12.0% to US$171.55) and Los Angeles (-10.7% to US$158.64).
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.