WASHINGTON – 19 March 2024 – The U.S. hotel industry reported higher performance results month over month, according to February 2024 data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
February 2024 (percentage change from February 2023):
- Occupancy: 58.9% (-1.8%)
- Average daily rate (ADR): US$158.23 (+3.9%)
- Revenue per available room (RevPAR): US$93.19 (+2.0%)
Among the Top 25 Markets, Oahu Island experienced the highest occupancy level (84.0%), which was up 6.6% year over year.
Helped by Super Bowl LVIII, Las Vegas reported the highest ADR (+61.9% to US$301.35) and RevPAR (+69.9% to US$247.44) levels.
Markets with the lowest occupancy for the month included Minneapolis (46.1%) and Chicago (49.4%).
The Top 25 Markets showed higher occupancy and ADR than all other markets.
For more information about the company and its products and services, please visit www.costargroup.com.
Additional Performance Data
CoStar’s world-leading hotel performance sample comprises 81,000 properties and 10.5 million rooms around the globe. Members of the media should refer to the contacts listed below for additional data requests.
