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In a breakdown of the top 25 markets, Detroit emerged as a strong performer, experiencing the highest increase in all three key performance metrics. – Image Credit Pexels
- The U.S. hotel industry’s weekly report up to 17th May shows a slight decrease in occupancy but an increase in average daily rate (ADR) and revenue per available room (RevPAR).
- Among the top 25 markets, Detroit experienced the highest gains in key performance metrics while Houston and Atlanta reported significant losses.
The U.S. hotel industry reported mixed gains and losses in key performance metrics for the week ending 17th May, according to data released by CoStar, a leading online real estate marketplace provider.
The industry saw a slight decrease in occupancy rates, dropping 0.4% to 67.2% compared to the same period in the previous year. However, the average daily rate (ADR) and the revenue per available room (RevPAR) both showed a 1.3% increase, reaching US$166.31.
In a breakdown of the top 25 markets, Detroit emerged as a strong performer, experiencing the highest increase in all three key performance metrics. It saw a notable 11.4% rise in occupancy to 70.4%, a 13.2% increase in ADR to US$142.83, and a significant 26.1% boost in RevPAR to US$100.54.
On the downside, Houston reported the most significant dip in occupancy, falling 11.3% to 60.0%. On the other hand, Atlanta posted the largest losses in ADR and RevPAR, dropping 6.8% to US$128.06 and 13.5% to US$85.59, respectively. These mixed results indicate a dynamic and changing landscape within the U.S. hotel industry.
