U.S. hotel results for week ending 24 February

 U.S. hotel performance showed mixed results over the previous week, according to CoStar’s latest data through 24 February. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.

18-24 February 2024 (percentage change from comparable week in 2023):

• Occupancy: 62.0% (-3.3%)
• Average daily rate (ADR): US$156.62 (+0.3%)
• Revenue per available room (RevPAR): US$97.12 (-2.9%)

Among the Top 25 Markets, Minneapolis reported the largest year-over-year occupancy increase (+4.5% to 47.8%).

Las Vegas (+7.5% to US$203.52) and Oahu Island (+7.5% to US$303.54) matched for the highest ADR growth.

The steepest RevPAR declines were seen in New Orleans (-22.1% to US$128.09) and Nashville (-20.2% to US$104.30). The Mardi Gras calendar shift affected New Orleans’ performance.

For more information about the company and its products and services, please visit www.costargroup.com.