The U.S. Hotel Industry Reported Mixed Results for August 2024 :: Hospitality Trends

The U.S. hotel industry reported lower performance results from the previous month but positive comparisons year over year, according to August 2024 data from CoStar.

August 2024 (percentage change from August 2023):

• Occupancy: 66.9% (+1.5%)
• Average daily rate (ADR): US$157.84 (+2.3%)
• Revenue per available room (RevPAR): US$105.67 (+3.9%)

Among the Top 25 Markets, New York City experienced the highest occupancy level (+5.2% to 87.3%).  

Markets with the lowest occupancy for the month included New Orleans (54.1%) and Phoenix (58.4%).

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.