The U.S. hotel industry reported mixed performance results from the previous month, according to September 2024 data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
Helped by the Columbus Day/Indigenous Peoples' Day calendar shift, the U.S. hotel industry reported positive year-over-year comparisons, according to CoStar’s latest data through 12 October. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.6-12 October 2024 (percentage change from comparable week in 2023):
To support residents who have been displaced from their homes or forced to evacuate by Hurricanes Helene and Milton, Airbnb.org is working with the Florida United Methodist Conference (FLUMC), United Way, Global Empowerment Mission (GEM), and 211 contact centers in Florida, North Carolina, South Carolina, and Georgia to offer free, temporary housing. Stays are completely free for guests and are funded by Airbnb.org and the generosity of Airbnb hosts — many of whom offer their home for free or at a discount through Airbnb.org.
Due to Rosh Hashana, the U.S. hotel industry reported negative year-over-year comparisons, according to CoStar’s latest data through 5 October. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.
U.S. hotel revenue per available room (RevPAR) rose 3.9% year over year (YoY) in August, following a lackluster July. Growth was driven by average daily rate (ADR), which increased 2.3%. For the first time since February, the ADR increase was nearly equal to the monthly rate of inflation (2.5%). After two months of declines, occupancy improved by 1ppt to 66.9%, which was 4.1ppts below August 2019.
The U.S. hotel industry reported positive year-over-year comparisons, according to CoStar’s latest data through 28 September. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.
The U.S. hotel industry reported positive year-over-year comparisons, according to CoStar’s latest data through 21 September. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.15-21 September 2024 (percentage change from comparable week in 2023):
The U.S. hotel industry reported lower performance results from the previous month but positive comparisons year over year, according to August 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 mostly negative year-over-year comparisons, according to CoStar’s latest data through 14 September. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.8-14 September 2024 (percentage change from comparable week in 2023):
Following today’s CPI report, U.S. Travel Association Vice President of Research Josh Friedlander released the following statement.
The U.S. hotel industry reported lower performance results than the previous week, according to CoStar’s latest data through 7 September. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.
The U.S. hotel industry reported positive comparisons year over year, according to CoStar’s latest data through 31 August. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.
One year after passage, New York City’s unprecedented short-term rental regulations have failed to deliver on their promise to combat the housing crisis. In the wake of stringent measures, consumers are instead facing all-time high hotel prices and residents facing all-time high rents.
A year after a series of tragic fires in Maui, the island’s hotels and Hawaii's governor want visitors to return to the destination to help support the local economy and regain a sense of normalcy.
U.S. economic growth improved during 2Q-2024 with Real GDP having risen 2.8%, well above the 1.4% increase achieved in 1Q-2024. A strong U.S. economy fueled a national 2.5% RevPAR increase, an acceleration from the 0.0% RevPAR change during 1Q-2024. However, 2Q2024 performance was aided by an earlier than normal Easter observance as well as the rare total solar eclipse that occurred over a large swath of the nation in April.
After three months of year-over-year growth, U.S. RevPAR was flat (0.0%) compared with last July. The result was due to falling occupancy (-0.5%), which was not offset by a small gain (+0.5%) in ADR. The Top 25 Markets saw some growth (+0.5%), but the increase did not rise to the level of Q2 and was not enough to erase decreases in the remaining markets (-0.4%). Chain scale results remained bifurcated with the upper tier (Luxury, Upper Upscale and Upscale) posting gains of 1.6% and the remaining chains scales falling by the same amount in aggregate.
The U.S. hotel industry reported positive comparisons year over year, according to CoStar’s latest data through 24 August. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.18-24 August 2024 (percentage change from comparable week in 2023):
The rate of growth in occupancy, average daily rate (“ADR”) and revenue per available room (“RevPAR”), while robust, continued to decelerate. Luxury hotel occupancy benefitted from increased demand, while ADR growth levels for lower priced properties continued to show significant improvements. For the overall Manhattan hotel market, Q1 RevPAR increased 9.4 percent while Q2 increased 6.8 percent, from the same respective periods in 2023.
Canadian Hotel demand continues to outperform 2019 levels in terms of overall occupancy and is even neck and neck with 2018 which was Canada’s occupancy peak. ADR’s robust growth above inflationary rates at 4.3% YTD leads healthy RevPAR growth of 4.0% YTD June. In spite of inflation, deflated RevPARs are higher than pre-COVID levels. We have faced many headwinds with consumer disposable income constraints and geopolitical uncertainty; however, hotel performance continues to roar forward!