STR: U.S. hotel results for week ending 6 January

U.S. hotel performance decreased from the previous week, while year-over-year comparisons improved, according to CoStar’s latest data through 6 January.

• 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).

31 Dec 2023 - 6 Jan 2024 (percentage change from comparable weeks in 2023, 2019):

• Occupancy: 46.8 (-0.7%, -9.1%)
• Average daily rate (ADR): US$152.17 (+7.2%, +22.9%)
• Revenue per available room (RevPAR): US$71.28 (+6.4%, +11.8%)