WASHINGTON – 11 January 2024 – U.S. hotel performance decreased from the previous week, while year-over-year comparisons improved, according to CoStar’s latest data through 6 January. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.
31 December 2023 through 6 January 2024 (percentage change from comparable week in 2023):
- Occupancy: 46.8% (-0.7%)
- Average daily rate (ADR): US$152.17 (+7.2%)
- Revenue per available room (RevPAR): US$71.28 (+6.4%)
Among the Top 25 Markets, New Orleans saw the largest year-over-year increases in each of the three key performance metrics: occupancy (+36.5% to 61.2%), ADR (+43.5% to US$211.90) and RevPAR (+95.9% to US$129.62). The market’s performance was helped by the Sugar Bowl, FAN EXPO New Orleans, and multiple Mardi Gras parades.
Helped by New Year’s Eve, New York City posted the second-highest gains in ADR (+33.6% to US$260.35) and RevPAR (+49.9% to US$189.85).
The steepest RevPAR declines were seen in Las Vegas (-38.3% to US$124.81) and Dallas (-18.6% to US$49.03).
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Additional Performance Data
CoStar’s world-leading hotel performance sample comprises 80,000 properties and 10.5 million rooms around the globe. Members of the media should refer to the contacts listed below for additional data requests.
