U.S. hotel ADR and RevPAR grew at lowest rate since 2020
The U.S. hotel industry reported record-high average daily rate (ADR) and revenue per available room (RevPAR), but the country’s growth rate was its lowest since the declines of 2020, according to CoStar’s 2024 year-end data. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
WASHINGTON -- The U.S. hotel industry reported record-high average daily rate (ADR) and revenue per available room (RevPAR), but the country’s growth rate was its lowest since the declines of 2020, according to CoStar’s 2024 year-end data. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
2024 (percentage change from 2023)
- Occupancy: 63.0% (flat)
- Average daily rate (ADR): US$158.67 (+1.7%)
- Revenue per available room (RevPAR): US$99.94 (+1.8%)
Among the Top 25 Markets, New York City experienced the highest occupancy level (+3.3% to 84.3%).
Markets with the lowest occupancy for the year included St. Louis (58.1%), Minneapolis (58.7%) and Detroit (59.1%).
The Top 25 Markets showed higher occupancy and ADR than all other markets. Markets outside the Top 25 saw a 0.5% decline in occupancy.
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Additional Performance Data
CoStar’s world-leading hotel performance sample comprises 86,000 properties and 11 million rooms around the globe. Members of the media should refer to the contacts listed below for additional data requests.
Media Contact
Haley Luther
Senior Communications Manager [email protected] +1 (216) 278 0627