This week in Hospitality & Tourism #12 2024

STR: U.S. hotel results for week ending 16 March

U.S. hotel performance increased from the previous week but showed continued declines year over year, according to CoStar’s latest data through 16 March.

• Among the Top 25 Markets, Seattle reported the largest year-over-year increases in occupancy (+12.7% to 73.0%) and RevPAR (+21.7% to US$120.29).
• Anaheim posted the highest ADR lift (+18.0% to US$254.73).
• The steepest RevPAR declines were seen in Las Vegas (-41.0% to US$167.50) and New Orleans (-19.0% to US$139.05).

10-16 March 2024 (percentage change from comparable weeks in 2023):

• Occupancy: 66.5 (-1.4%)
• Average daily rate (ADR): US$163.21 (-2.1%)
• Revenue per available room (RevPAR): US$108.51 (-3.5%)