The US hotel industry reported positive comparisons year over year for the week ending Aug. 31, according to CoStar, a provider of online real estate marketplaces, information and analytics in the property markets.
Results for the week ending Aug. 31 were (percentage change from comparable week in 2023):

• Occupancy: 63.9% (up 1.9%)
• Average daily rate (ADR): $153.67 (up 1.6%)
• Revenue per available room (RevPAR): $98.18 (up 3.6%)

Among the Top 25 Markets, Tampa saw the highest year-over-year occupancy lift (up 15.2% to 61.7%). Seattle posted the largest increase in ADR (up 12.5% to $218.08). The steepest RevPAR declines were seen in San Francisco (down 22.2% to $122.95) and Oahu (down 10.3% to $194.51).

In the week ending Aug. 31, US RevPAR increased for the seventh consecutive week, boosted by both ADR and occupancy. Group demand in luxury and upscale hotels rose for the seventh straight week as well. All seven days of the week produce positive RevPAR comparisons, with weekdays (Monday – Thursday) leading the industry — indicating the strength of business travel.

All chain scales except economy saw RevPAR growth led by weekdays. The weekend (Friday and Saturday) produced a modest RevPAR gain for a second consecutive week, following four weeks of declines. The strong weekday performance, according to CoStar, bodes well for the coming months as the industry heads into the peak business travel season.

While the base tends to be small this time of year, group demand in luxury and upscale hotels advanced by 8.5% for the week ending Aug. 31, which was the seventh consecutive weekly gain. Transient performance across luxury and upper upscale hotels was up for a second consecutive week, with demand increasing 5.3%, while ADR was flat (up 0.1%).

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