U.S. Hotels State of the Union December 2024 Edition
A Pictorial Update on Our Latest Thoughts and the Facts and Figures Influencing Our Industry.
Press Releases
U.S. hotel results for week ending 7 December
The U.S. hotel industry reported positive year-over-year performance comparisons, according to CoStar’s latest data through 7 December. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.
Hotel F&B driving labor cost growth in 2024
In the U.S., it costs about $9 more to staff a hotel room than in 2023.
U.S. hotel results for week ending 30 November
Due to the Thanksgiving calendar shift, the U.S. hotel industry reported lower year-over-year performance comparisons, according to CoStar’s latest data through 30 November. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.24-30 November 2024 (percentage change from comparable week in 2023):
Lodging Analytics Research & Consulting (LARC)’s 4Q-2024 Hotel Industry Outlook and Market Intelligence Reports
U.S. economic growth improved during 3Q-2024 with Real GDP growth of 2.8%, slightly below the 3.0% increase in 2Q-2024. Despite strong economic growth, U.S. RevPAR only increased 0.9%, a deceleration from the 2.4% RevPAR change in 2Q-2024.
U.S. hotel results for week ending 23 November
WASHINGTON -- Due to the Thanksgiving calendar shift, the U.S. hotel industry reported higher year-over-year performance comparisons, according to CoStar’s latest data through 23 November. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.
East West Hospitality Welcomes Woodrun Place in Snowmass to its Growing Portfolio of Luxury Ski Vacation Rentals
East West Hospitality, a leading provider of property management and vacation rental services across Colorado’s premier mountain destinations, has assumed the management of Woodrun Place in Snowmass Village and added the property to its collection of premier mountain vacation rentals. Effective immediately, East West Hospitality will take over operations for the property, from HOA management to rental reservations, guest services, and asset management. The addition of this iconic ski-in/ski-out property further expands East West Hospitality’s presence in the popular winter playground of Aspen Snowmass.
Canada hotels posted record-high room rates for an October
Canada’s October hotel average daily rate (ADR) exceeded CAD200 for the first time on record, according to data from CoStar. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.
PwC: Post-election clarity and ADR increases likely to sustain hotel performance through 2025 amid modest demand growth
The US lodging sector is expected to experience muted growth in 2025, driven by moderate increase in average daily room rates and stable occupancy levels, resulting in an annual increase in revenue per available room of 1.5%. Despite stagnant supply levels over the past few quarters, new construction projects are expected to be spurred in 2025 by a combination of factors, including increasing optimism about a soft landing, easing monetary policies, and other capital markets tailwinds. However, overall impacts from the macroeconomic environment are expected to continue to suppress demand and occupancy growth in 2025.
Upcoming holiday season impact on U.S. hotel performance
Two significant changes will impact travel in the U.S. this holiday season. First, Thanksgiving is a week later, meaning there are five less days between Thanksgiving and Christmas and likely more travel compression between the two holidays. Second, Christmas and New Year’s Day move from a Monday last year to a Wednesday this year.
U.S. hotel performance for October 2024
The U.S. hotel industry reported higher performance results from the previous month, according to October 2024 data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
U.S. hotel results for week ending 16 November
Due to the Veteran’s Day calendar shift, the U.S. hotel industry reported mixed year-over-year performance comparisons, according to CoStar’s latest data through 16 November. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.
STR, TE lower U.S. hotel growth forecast in final revision of 2024
STR and Tourism Economics downgraded the growth rate in the final U.S. hotel forecast revision of 2024.
U.S. Hotel Performance Impacted by Moderate Summer Demand; Growth Forecast to Improve in Q4
Despite facing challenges from subdued summer demand and a sluggish third quarter, U.S. hotel performance is expected to reaccelerate in the fourth quarter and extend into 2025, according to CBRE’s latest forecast.
U.S. Hotels State of the Union November 2024 Edition
A Pictorial Update on Our Latest Thoughts and the Facts and Figures Influencing Our Industry.
U.S. hotel results for week ending 2 November
The U.S. hotel industry reported positive year-over-year comparisons, according to CoStar’s latest data through 2 November. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.
U.S. hotel commentary - September 2024
U.S. RevPAR decreased 1.3% year over year (YoY) in September following a robust August which followed a lackluster July. The primary reason for the decline was the change in the calendar composition of the month. September 2024 had one less weekend (Friday & Saturday) and an extra Sunday and Monday when compared to 2023.
CBRE Hotel Brand Performance 2024 Report: Navigating Slower RevPAR Growth to Make Strategic Brand Selections
Slowing RevPAR growth and maturation of the U.S. hotel industry are driving brand proliferation to attract new customers. The average number of brands per brand family tracked by CBRE increased to 25 in 2023 from 13 in 2013. RevPAR growth fell to 1.5% between 2018 and 2023 from 3% between 2013 and 2018. Given that year-to-date 2024 RevPAR growth is lower than it was a year ago, we believe this slowdown is more reflective of increasing competition from alternative lodging sources rather than a lagging pandemic recovery. To maximize profits, owners and developers must pick an attractive chain scale and an outperforming brand. Selecting a brand that outperforms the average has become increasingly difficult. Only 30% of brands delivered above-average RevPAR growth over the past five years, down from the 52% of brands with above-average RevPAR from 2013 to 2018.
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):
Cultural Curiosity, Personal Safety and Multidestination Journeys Top Priorities for American and Canadian Travelers in New Survey
Just days before a national election with global implications, North Americans are weighing in on another increasingly complex topic – traveling abroad. International marketing firm MMGY, in partnership with the United States Tour Operators Association (USTOA), revealed today the findings of the 2024 Portrait of American and Canadian International TravelersTM study. The survey reveals that, among those who plan to take at least one international vacation during the next two years, American travelers intend to spend an average of $11,906 on international travel annually while Canadians plan to spend approximately $8,222 annually.