U.S. Hotel Performance for June 2024
The U.S. hotel industry reported improved performance results from the previous month, according to June 2024 data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
The U.S. hotel industry reported improved performance results from the previous month, according to June 2024 data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
June 2024 (percentage change from June 2023):
- Occupancy: 69.6% (flat)
- Average daily rate (ADR): US$161.30 (+1.5%)
- Revenue per available room (RevPAR): US$112.33 (+1.5%)
Among the Top 25 Markets, New York City
experienced the highest levels in each of the three key performance metrics: occupancy (+2.5% to 87.8%), ADR (+4.4% to US$317.91) and RevPAR (+7.0% to US$279.08).
Markets with the lowest occupancy for the month included New Orleans (56.9%) and Phoenix (63.4%).
The Top 25 Markets showed higher occupancy and ADR than all other markets.
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