STR: U.S. hotel results for week ending 19 October

The U.S. hotel industry reported positive year-over-year comparisons, according to CoStar’s latest data through 19 October.

• Among the Top 25 Markets, Tampa saw the largest occupancy lift (+23.6% to 83.7%), due to continued displacement demand from Hurricane Milton.
• Miami saw the highest increases in ADR (+29.9% to US$245.28) and RevPAR (+35.5% to US$179.72). The market’s performance was driven by Taylor Swift’s Eras Tour and Adobe MAX 2024.
• The steepest RevPAR declines were seen in Las Vegas (-19.5% to US$192.14) and Denver (-12.5% to US$105.98).

13-19 Oct 2024 (percentage change from comparable weeks in 2023):

• Occupancy: 70.1 (+1.6%)
• Average daily rate (ADR): US$169.85 (+2.5%)
• Revenue per available room (RevPAR): US$119.01 (+4.2%)