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The steepest RevPAR declines were seen in Las Vegas (-25.9% to US$118.51) and Chicago (-25.8% to US$115.05). – Image Credit Unsplash+
Due to Rosh Hashana, the U.S. hotel industry reported negative year-over-year comparisons, according to CoStar’s latest data through 5 October.
29 September through 5 October 2024 (percentage change from comparable week in 2023):
- Occupancy: 65.6% (-3.4%)
- Average daily rate (ADR): US$156.25 (-4.4%)
- Revenue per available room (RevPAR): US$102.44 (-7.7%)
Among the Top 25 Markets, Tampa saw the highest year-over-year increases in occupancy (+24.1% to 81.3%) and RevPAR (+22.1% to US$125.39). As is common around a natural disaster, the market’s hotel performance was lifted by displacement demand from Hurricane Helene.
The steepest RevPAR declines were seen in Las Vegas (-25.9% to US$118.51) and Chicago (-25.8% to US$115.05).
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.
