U.S. hotel results for week ending 6 April

 U.S. hotel performance showed mixed results from the previous week but positive comparisons year over year, according to CoStar’s latest data through 6 April. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.

31 March through 6 April 2024 (percentage change from comparable week in 2023):

• Occupancy: 64.1% (+4.7%)
• Average daily rate (ADR): US$156.96 (+2.1%)
• Revenue per available room (RevPAR): US$100.59 (+6.9%)

Among the Top 25 Markets, Philadelphia reported the largest year-over-year occupancy lift (+17.5% to 66.1%) and the second-highest jumps in ADR (+17.3% to US$165.11) and RevPAR (+37.8% to US$109.10). The market’s performance was driven by WrestleMania 40.

Helped by the NCAA Men’s Final Four, Phoenix posted the largest increases in ADR (+24.8% to US$237.38) and RevPAR (+39.7% to US$184.07).

The steepest RevPAR declines were seen in Orlando (-7.7% to US$163.05) and Tampa (-7.1% to US$162.81).

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