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In November New York City boasted the highest occupancy level – Image Credit Unsplash
- The U.S. hotel industry recorded lower performance in November 2024 compared to the previous month, yet showed small year-over-year improvements.
- Among the top 25 markets, New York City boasted the highest occupancy level, while Minneapolis and St. Louis reported the lowest.
According to data from CoStar, a premier provider of online real estate marketplaces, information, and analytics, the U.S. hotel industry’s performance dipped in November 2024 compared to October. Despite the month-to-month decline, the industry saw minor year-over-year improvements.
In November 2024, hotel occupancy stood at 59.4%, marking a 1.7% increase from the same month the previous year. The average daily rate (ADR) was at US$152.70, a slight raise of 0.9%. Revenue per available room (RevPAR) also improved, reaching US$90.66, a 2.5% increase compared to November 2023.
Among the top 25 U.S. markets analyzed, New York City led the pack with the highest occupancy level, which rose by 3.1% to 86.6%.
On the other hand, Minneapolis and St. Louis had the lowest occupancy rates for the month, recording 50.0% and 52.4%, respectively.
