STR: U.S. hotel results for week ending 29 June

The U.S. hotel industry reported higher performance results from the previous week and positive comparisons year over year, according to CoStar’s latest data through 29 June.

• Among the Top 25 Markets, Minneapolis saw the highest year-over-year increases in each of the three key performance metrics: occupancy (+20.1% to 74.8%), ADR (+15.7% to US$150.42) and RevPAR (+39.0% to US$112.46). The market’s performance was helped by the U.S. Olympic Gymnastics Trials and the Twin Cities Pride Parade.
• The steepest RevPAR declines were seen in New Orleans (-30.6% to US$82.54), Denver (-8.2% to US$159.00) and Philadelphia (-8.2% to US$110.22).

23-29 June 2024 (percentage change from comparable weeks in 2023):

• Occupancy: 71.90 (+3.2%)
• Average daily rate (ADR): US$162.81 (+3.6%)
• Revenue per available room (RevPAR): US$117.13 (+6.9%)