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CoStar: Holidays and Natural Disasters Impact U.S. Hotel Performance

  • LODGING Staff
  • 11 October 2024
  • 1 minute read
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This article was written by Lodging Magazine. Click here to read the original article

image

WASHINGTON—Due to Rosh Hashana, the U.S. hotel industry reported negative year-over-year comparisons, according to CoStar’s latest data through Oct. 5, 2024.

U.S. Hotel Performance
September 29-October 5, 2024
Percentage change from comparable week in 2023:
Occupancy: 65.6 percent (down 3.4 percent)
ADR: $156.25 (down 4.4 percent)
RevPAR: $102.44 (down 7.7 percent)

Among the Top 25 Markets, Tampa saw the highest year-over-year increases in occupancy (up 24.1 percent to 81.3 percent) and RevPAR (up 22.1 percent to $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 in Las Vegas (down 25.9 percent to $118.51) and Chicago (down 25.8 percent to $115.05).

Please click here to access the full original article.

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