average daily rate
U.S. Hotel Results for Week Ending 13 April
CoStar Group | April 18, 2024
WASHINGTON – 18 April 2024 – Helped by the total solar eclipse, U.S. hotel performance increased from the previous week, according to CoStar’s latest data through 13 April. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. 7-13 April 2024 (percentage change from comparable week in 2023): Occupancy: 65.8% (+2.8%) Average daily rate (ADR): US$160.20 (+2.9%) Revenue per available room (RevPAR): US$105.48 (+5.8%) Among the Top 25 Markets, Philadelphia reported the largest year-over-year increase in occupancy (+23.2% to 77.0%) and RevPAR (+45.7% to US$1...
HVS Las Vegas Casino and Hotel Market Outlook 2024
Shannon S. Okada | April 16, 2024
By Shannon S. Okada Las Vegas continues to evolve, with billions of dollars being spent on the development of new world-class venues in recent years. The market hosted 40.8 million visitors in 2023, exceeding the 40.0 million visitor threshold for the first time since 2019. Gaming revenue for Clark County in 2023 was $13.5 billion, which set a market record for the second straight year. In 2023, occupied room nights, as well as total occupancy (83.5%), continued to lag 2019 performance; however, like gaming revenue, the market’s ADR ($191.29) and RevPAR ($159.73) for 2023 reached record levels for the second year in a row. As Las Vegas l...
U.S. Hotel Results for Week Ending 6 April
CoStar Group | April 12, 2024
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 t...
Six Nations, St. Patrick’s Day Drove Dublin Hotel Occupancy in March
CoStar Group | April 10, 2024
WASHINGTON – 10 April 2024 – Dublin’s hotel occupancy was helped by the Six Nations Men’s 2024 championship and St. Patrick’s Day festivities, according to March 2024 preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets. March 2024 (year-over-year % change): Occupancy: 81.0% (+0.2%) Average daily rate (ADR): EUR164.04 (-5.5%) Revenue per available room (RevPAR): EUR132.81 (-5.3%) The market’s highest daily occupancy level was seen on Saturday, 16 March (98.6%)—the night of the final round of the Six Nations champi...
Eras Tour Led to March Records for Singapore Hotels
CoStar Group | April 10, 2024
WASHINGTON – 10 April 2024 – The host of six Taylor Swift concerts, Singapore’s hotel industry posted its highest March average daily rate (ADR) and revenue per available room (RevPAR) on record, according to preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets. March 2024 (year-over-year % change): Occupancy: 79.1% (+5.1%) Average daily rate (ADR): SGD358.91 (+12.7%) Revenue per available room (RevPAR): SGD284.03 (+18.5%) Historically, Q1 and Q2 daily occupancy levels are lower post-Chinese New Year and prior to events pick...
Jeddah Room Rates Jumped During Formula One
CoStar Group | April 10, 2024
WASHINGTON – 10 April 2024 – Helped by the annual Saudi Arabian Grand Prix, Jeddah’s hotel industry reported performance growth across the metrics, according to March preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets. March 2024 (year-over-year % change): Occupancy: 66.3% (+2.2%) Average daily rate (ADR): SAR929.94 (+3.2%) Revenue per available room (RevPAR): SAR616.63 (+5.5%) Jeddah hosted the 2024 Saudi Arabian Grand Prix between 7-9 March, which drove daily performance in the market. Occupancy was the highest on Wed...
U.S. hotel results for week ending 30 March
CoStar Group | April 4, 2024
WASHINGTON – 4 April 2024 – As expected ahead of the Easter holiday, U.S. hotel performance decreased from the previous week, according to CoStar’s latest data through 30 March. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. 24-30 March 2024 (percentage change from comparable week in 2023): Occupancy: 62.3% (-5.6%) Average daily rate (ADR): US$157.14 (-0.7%) Revenue per available room (RevPAR): US$97.83 (-6.3%) Among the Top 25 Markets, New York City reported the largest year-over-year increases in each of the three key performance metrics: occu...
U.S. Hotel Results for Week Ending 23 March
CoStar Group | March 28, 2024
WASHINGTON – 28 March 2024 – U.S. hotel performance decreased from the previous week but showed positive comparisons year over year, according to CoStar’s latest data through 23 March. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. 17-23 March 2024 (percentage change from comparable week in 2023): Occupancy: 65.3% (+0.7%) Average daily rate (ADR): US$162.28 (+2.5%) Revenue per available room (RevPAR): US$106.01 (+3.2%) Among the Top 25 Markets, New Orleans reported the largest year-over-year increase in occupancy (+13.6% to 75.5%). ...
1
Technology
2
Appointments/People on the Move
3
Operations
4
Industry Happenings
5
All Things Independent
Today's News
Cheval Collection Selects IDeaS G3 RMS at Eight Additional Luxury Serviced Apartment Properties
Hospitality Students Creatively Solving Problems With Lego Learning Initiative
Are You Leaving Money on the Table? Turning Casino Resorts Into Go-To Venues for Profitable Groups and Events
AAHOA’s Hoteliers Push Forward Impactful National Advocacy Agenda in Washington, D.C.
As the first news aggregate for the hotel industry, Hotel-Online is the industry’s must-read daily news source for everything hotel curated for busy professionals. Sign up today for industry news delivered to your inbox.