U.S. hotel results for week ending 26 October

The U.S. hotel industry reported positive year-over-year comparisons, according to CoStar’s latest data through 26 October. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.

20-26 October 2024 (percentage change from comparable week in 2023):

• Occupancy: 69.0% (+4.5%)
• Average daily rate (ADR): US$168.69 (+4.6%)
• Revenue per available room (RevPAR): US$116.32 (+9.3%)

Among the Top 25 Markets, Tampa saw the largest occupancy lift (+28.1% to 84.2%), due to continued displacement demand from Hurricane Milton.

New Orleans saw the highest increases in ADR (+64.1% to US$301.30) and RevPAR (+77.6% to US$227.24). The market’s performance was driven by Taylor Swift’s Eras Tour.

The steepest RevPAR declines were seen in Las Vegas (-7.9% to US$196.40) and Minneapolis (-6.5% to US$86.31).

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