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Tampa experienced the highest increases in all three key performance metrics due to the ongoing displacement demand from Hurricane Milton. – Image Credit Unsplash
- The U.S. hotel industry showed varied performance in the week ending 16th November, with Tampa experiencing the most significant increases in key metrics due to displacement demand from Hurricane Milton.
- Las Vegas and San Francisco saw the sharpest decreases in Revenue per Available Room (RevPAR), with Las Vegas’ performance significantly affected by the Formula 1 calendar shift.
According to CoStar’s latest data, the U.S. hotel industry demonstrated mixed results for the week ending 16 November, influenced by the Veteran’s Day calendar shift. The occupancy rate showed a marginal increase of 1.5%, reaching 63.3%. However, the average daily rate (ADR) dropped by 1.1% to US$154.96, and Revenue per Available Room (RevPAR) rose slightly by 0.4% to US$98.11.
Notably, Tampa experienced the highest increases in all three key performance metrics due to the ongoing displacement demand from Hurricane Milton. In contrast, Las Vegas and San Francisco saw the largest declines in RevPAR, with Las Vegas’ decline largely due to the Formula 1 calendar shift.
