WASHINGTON – 29 February 2024 – U.S. hotel performance showed mixed results over the previous week, according to CoStar’s latest data through 24 February. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.
18-24 February 2024 (percentage change from comparable week in 2023):
- Occupancy: 62.0% (-3.3%)
- Average daily rate (ADR): US$156.62 (+0.3%)
- Revenue per available room (RevPAR): US$97.12 (-2.9%)
Among the Top 25 Markets, Minneapolis reported the largest year-over-year occupancy increase (+4.5% to 47.8%).
Las Vegas (+7.5% to US$203.52) and Oahu Island (+7.5% to US$303.54) matched for the highest ADR growth.
The steepest RevPAR declines were seen in New Orleans (-22.1% to US$128.09) and Nashville (-20.2% to US$104.30). The Mardi Gras calendar shift affected New Orleans’ performance.
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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.
