STR: U.S. hotel results for week ending 1 June

Due to Memorial Day, the U.S. hotel industry reported lower performance results from the previous week but slightly positive comparisons year over year, according to CoStar’s latest data through 1 June.

• Among the Top 25 Markets, New Orleans saw the highest year-over-year occupancy lift (+17.8% to 66.8%).
• Las Vegas reported the largest increase in ADR (+7.4% to $177.13).
• Dallas reported the largest jump in RevPAR (+22.5% to US$86.07) and the second-highest increase in ADR (+6.9% to US$120.55). Severe storms in the market drove performance after many residents were left without power.
• The steepest RevPAR declines were seen in Washington, D.C. (-10.3% to US$105.24) and Denver (-7.6% to US$93.92).

26 May - 1 June 2024 (percentage change from comparable weeks in 2023):

• Occupancy: 62.0 (+0.9%)
• Average daily rate (ADR): US$150.87 (+0.1%)
• Revenue per available room (RevPAR): US$93.50 (+1.0%)