The US hotel industry reported mixed comparisons year over year for the week of Aug. 11-17, according to CoStar’s latest data. The results for the week (percentage change from comparable week in 2023) were:
- Occupancy: 66.9% (down 0.2%)
- Average daily rate (ADR): $156.35 (up 1%)
- Revenue per available room (RevPAR): $104.54 (up 0.9%)
Among the Top 25 markets, Houston saw the highest year-over-year increases in each of the three key performance metrics: occupancy (up 34.3% to 75.3%), ADR (up 14.5% to $121.89) and RevPAR (up 53.8% to $91.73).
The steepest RevPAR declines were seen in San Francisco (down 13.8% to $143.39) and Atlanta (down 11.3% to $69.43).
CoStar also reported that after three consecutive months of year-over-year increases, Canada’s hotel industry recorded a decline in occupancy in July. According to July 2024 data, results were (percentage change from 2023):
- Occupancy: 75.2% (down 0.4%)
- Average daily rate (ADR): $175 (up 1.1%)
- RevPAR: $132 (up 0.7%)
Laura Baxter, CoStar Group’s director of hospitality analytics for Canada, said occupancy dipped marginally in July after a three-month growth run. She said that though most segments grew year over year, group occupancy continued to decline, down 8.5%, which was the steepest drop since March. A contraction in transient room rates, said Baxter, due to a lower group base combined with shorter booking windows, contributed to slower ADR growth as well.
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