U.S. hotel results for week ending 11 May

The U.S. hotel industry reported higher performance from the previous week and positive comparisons year over year, according to CoStar’s latest data through 11 May. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.

5-11 May 2024 (percentage change from comparable week in 2023):

• Occupancy: 66.1% (+2.1%)
• Average daily rate (ADR): US$162.14 (+4.4%)
• Revenue per available room (RevPAR): US$107.24 (+6.6%)

Among the Top 25 Markets, San Francisco reported the highest year-over-year increases in each of the three key performance metrics: occupancy (+20.6% to 79.3%), ADR (+54.5% to US$313.13) and RevPAR (+86.3% to US$248.28). The market’s performance was lifted by the RSA Conference.

Orlando, helped by NPE2024, saw the second-largest lifts in occupancy (+18.6% to 75.7%) and RevPAR (+28.9% to US$160.81).

The steepest RevPAR declines were seen in Philadelphia (-27.1% to US$101.16) and Nashville (-9.2% to US$133.09).

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