WASHINGTON—The U.S. hotel industry reported record-high average daily rate (ADR) and revenue per available room (RevPAR), but the country’s growth rate was its lowest since the declines of 2020, according to CoStar’s 2024 year-end data.
| U.S. Hotel Performance |
| 2024 (Percentage change from 2023): |
| Occupancy: 63 percent (flat) |
| ADR: $158.67 (up 1.7 percent) |
| RevPAR: $99.94 (up 1.8 percent) |
Among the Top 25 Markets, New York City experienced the highest occupancy level (up 3.3 percent to 84.3 percent).
Markets with the lowest occupancy for the year included St. Louis (58.1 percent), Minneapolis (58.7 percent), and Detroit (59.1 percent).
The Top 25 Markets showed higher occupancy and ADR than all other markets. Markets outside the Top 25 saw a 0.5 percent decline in occupancy.
