The U.S. hotel industry reported mostly flat performance comparisons year over year, according to July 2024 data from CoStar.
July 2024 (percentage change from July 2023):
- Occupancy: 68.8% (-0.5%)
- Average daily rate (ADR): US$161.69 (+0.5%)
- Revenue per available room (RevPAR): US$111.18 (flat)
Among the Top 25 Markets, Oahu Island experienced the highest levels in each of the three key performance metrics: occupancy (+4.5% to 88.3%), ADR (+1.4% to US$310.46) and RevPAR (+5.9% to US$274.13).
Markets with the lowest occupancy for the month included Phoenix (56.9%) and New Orleans (58.9%).
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.
