The U.S. hotel industry reported improved performance results from the previous month, according to June 2024 data from CoStar.
June 2024 (percentage change from June 2023):
- Occupancy: 69.6% (flat)
- Average daily rate (ADR): US$161.30 (+1.5%)
- Revenue per available room (RevPAR): US$112.33 (+1.5%)
Among the Top 25 Markets, New York City experienced the highest levels in each of the three key performance metrics: occupancy (+2.5% to 87.8%), ADR (+4.4% to US$317.91) and RevPAR (+7.0% to US$279.08).
Markets with the lowest occupancy for the month included New Orleans (56.9%) and Phoenix (63.4%).
The Top 25 Markets showed higher occupancy and ADR than all other markets.
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.
