This week in Hospitality & Tourism #10 2024

STR: U.S. hotel results for week ending 2 March

U.S. hotel performance was mostly positive year over year, according to CoStar’s latest data through 2 March.

• Among the Top 25 Markets, Seattle reported the largest year-over-year occupancy increase (+12.1% to 66.5%).
• Las Vegas, helped by the NAHB International Builders’ Show, posted the highest growth in ADR (+25.4% to US$249.30) and RevPAR (+36.5% to US$217.82).
• The steepest RevPAR declines were seen in Detroit (-9.8% to US$66.13) and St. Louis (-8.3% to US$62.56).

25 February - 2 March 2024 (percentage change from comparable weeks in 2023):

• Occupancy: 62.5 (-0.3%)
• Average daily rate (ADR): US$155.29 (+2.7%)
• Revenue per available room (RevPAR): US$97.12 (+2.4%)