WASHINGTON – 14 March 2024 – U.S. hotel performance increased from the previous week but declined year over year, according to CoStar’s latest data through 9 March. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.
3-9 March 2024 (percentage change from comparable week in 2023):
- Occupancy: 63.2% (-2.2%)
- Average daily rate (ADR): US$156.96 (-0.6%)
- Revenue per available room (RevPAR): US$99.17 (-2.8%)
Among the Top 25 Markets, Minneapolis reported the largest year-over-year increases in each of the three key performance metrics: occupancy (+25.1% to 63.7%), ADR (+15.9% to US$143.12) and RevPAR (+45.1% to US$91.11).
The steepest RevPAR declines were seen in Las Vegas (-30.6% to US$123.99) and Anaheim (-26.2% to US$139.21).
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.
