This week in Hospitality & Tourism #42 2024
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STR: U.S. hotel results for week ending 12 October
Helped by the Columbus Day/Indigenous Peoples' Day calendar shift, the U.S. hotel industry reported positive year-over-year comparisons, according to CoStar’s latest data through 12 October.
- Among the Top 25 Markets, New Orleans saw the largest performance lifts across each of the three key performance metrics: occupancy (+20.1% to 75.6%), ADR (+13.1% to US$194.70) and RevPAR (+35.9% to US$147.18). The market’s performance was driven by the Water Environment Federation's Technical Exhibition and Conference.
- Atlanta saw the second-highest increases in occupancy (+15.6% to 77.5%) and RevPAR (+20.6% to US$102.59), due to displacement demand from Hurricane Milton.
- The steepest RevPAR declines were seen in Oahu Island (-10.3% to US$218.20) and Tampa (-9.8% to US$88.67), the latter due to the impacts of Hurricane Milton.
6-12 Oct 2024 (percentage change from comparable weeks in 2023):
- Occupancy: 70.3 (+2.4%)
- Average daily rate (ADR): US$166.88 (+1.4%)
- Revenue per available room (RevPAR): US$117.28 (+3.8%)
