performance metrics
U.S. Hotel Performance for March 2024
CoStar Group | April 22, 2024
WASHINGTON – 22 April 2024 – The U.S. hotel industry reported higher performance results from the previous month, but mixed comparisons year over year, according to March 2024 data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets. March 2024 (percentage change from March 2023): Occupancy: 63.7% (-2.5%) Average daily rate (ADR): US$159.79 (+0.4%) Revenue per available room (RevPAR): US$101.81 (-2.2%) Among the Top 25 Markets, Miami experienced the highest levels in each of the three key performance metrics: occupancy (+2.3% to 83.5%), ADR...
Events Driving Hotel Performance in Adelaide; Bookings During LIV Golf at 72%
CoStar Group | April 22, 2024
WASHINGTON – 22 April 2024 – A number of large-scale events have boosted hotel performance in Adelaide, with further jumps expected for upcoming events, according to recent data from CoStar. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. January through early April During the Santos Tour Down Under (12-21 January), hotel occupancy reached 78.1%, while revenue per available room (RevPAR) increased 11.4% year over year to AUD179.18. A three-week period of the Adelaide Festival (1-17 March), alongside Adelaide Fringe (16 February through 17 March), drov...
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...
U.S. Hotel Performance for February 2024
CoStar Group | March 19, 2024
WASHINGTON – 19 March 2024 – The U.S. hotel industry reported higher performance results month over month, according to February 2024 data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets. February 2024 (percentage change from February 2023): Occupancy: 58.9% (-1.8%) Average daily rate (ADR): US$158.23 (+3.9%) Revenue per available room (RevPAR): US$93.19 (+2.0%) Among the Top 25 Markets, Oahu Island experienced the highest occupancy level (84.0%), which was up 6.6% year over year. Helped by Super Bowl LVIII, Las Vegas reported the...
U.S. Hotel Results for Week Ending 9 March
CoStar Group | March 14, 2024
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 (...
Rio de Janeiro Room Rates Peaked During Carnival
CoStar Group | March 13, 2024
WASHINGTON – 13 March 2024 – Helped by Carnival, Rio de Janeiro’s hotel industry recorded its highest average daily rate (ADR) and revenue per available room (RevPAR) since 2016, according to February preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets. February 2024 (year-over-year % change): Occupancy: 69.6% (-4.7%) Average daily rate (ADR): BRL996.92 (+9.1%) Revenue per available room (RevPAR): BRL694.02 (+4.0%) Carnival took place 9-17 February, and the market’s room rates peaked on the third and fourth night of the fe...
Dubai Hotel Performance Jumped During Eventful February
CoStar Group | March 13, 2024
WASHINGTON – 13 March 2024 – A series of events pushed all-time high occupancy levels in Dubai, according to February preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets. February 2024 (year-over-year % change): Occupancy: 90.8% (+3.4%) Average daily rate (ADR): AED887.06 (+9.3%) Revenue per available room (RevPAR): AED805.21 (+13.1%) The market’s hotel performance was helped by several events including Gulfood (19-23 February), the 2024 FIFA Beach Soccer World Cup (15-25 February), the 2024 Dubai Duty Free Tennis Championshi...
U.S. Hotel Results for Week Ending 2 March
CoStar Group | March 7, 2024
WASHINGTON – 7 March 2024 – U.S. hotel performance was mostly positive year over year, according to CoStar’s latest data through 2 March. 25 February through 2 March 2024 (percentage change from comparable week in 2023): Occupancy: 62.5% (-0.3%) Average daily rate (ADR): US$155.29 (+2.7%) Revenue per available room (RevPAR): US$97.12 (+2.4%) Among the Top 25 Markets, Seattle reported the largest year-over-year occupancy increase (+12.1% to 66.5%). Las Vegas, helped by the NAHB International Builders’ Show, posted the highest growth in ADR (+25.4% to US$249.30) and RevPAR (+36.5% to US$217.82) The steepest...
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