WASHINGTON – 12 April 2024 – U.S. hotel performance showed mixed results from the previous week but positive comparisons year over year, according to CoStar’s latest data through 6 April. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.
31 March through 6 April 2024 (percentage change from comparable week in 2023):
- Occupancy: 64.1% (+4.7%)
- Average daily rate (ADR): US$156.96 (+2.1%)
- Revenue per available room (RevPAR): US$100.59 (+6.9%)
Among the Top 25 Markets, Philadelphia reported the largest year-over-year occupancy lift (+17.5% to 66.1%) and the second-highest jumps in ADR (+17.3% to US$165.11) and RevPAR (+37.8% to US$109.10). The market’s performance was driven by WrestleMania 40.
Helped by the NCAA Men’s Final Four, Phoenix posted the largest increases in ADR (+24.8% to US$237.38) and RevPAR (+39.7% to US$184.07).
The steepest RevPAR declines were seen in Orlando (-7.7% to US$163.05) and Tampa (-7.1% to US$162.81).
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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
