This week in Hospitality & Tourism #5 2024

STR: U.S. hotel results for week ending 27 January

U.S. hotel performance increased from the previous week, while year-over-year comparisons remained mixed, according to CoStar’s latest data through 27 January.

• Among the Top 25 Markets, Las Vegas saw the largest year-over-year increases in each of the three key performance metrics: occupancy (+28.9% to 83.4%), ADR (+46.3% to US$228.37) and RevPAR (+88.5% to US$190.42). The market’s performance was driven by the SHOT Show and World of Concrete.
• Helped by the AHR Expo, Chicago reported the second-highest jumps in occupancy (+25.5% to 56.8%), ADR (+21.2% to US$140.49) and RevPAR (+52.1% to US$79.74).
• The steepest RevPAR declines were seen in Atlanta (-17.6% to US$75.46) and Dallas (-13.4% to US$84.06).

21-27 Jan 2024 (percentage change from comparable weeks in 2023):

• Occupancy: 56.2 (-0.3%)
• Average daily rate (ADR): US$149.76 (+5.1%)
• Revenue per available room (RevPAR): US$84.13 (+4.8%)