U.S. Hotel Performance: Week Ending March 30th Shows Positive Trends

Monday, April 8, 2024

Ahead of the Easter holiday, U.S. hotel performance took a dip compared to the previous week, as per CoStar’s latest data until March 30th. CoStar, a prominent provider of online real estate marketplaces, information, and analytics in the property markets, released the following statistics for March 24-30, 2024, showcasing the percentage change from the same week in 2023:

• Occupancy: 62.3% (-5.6%)
• Average daily rate (ADR): $157.14 (-0.7%)
• Revenue per available room (RevPAR): $97.83 (-6.3%)

Among the Top 25 Markets, New York City experienced significant year-over-year increases in all three key performance metrics: occupancy (+13.2% to 88.2%), ADR (+14.1% to $285.98), and RevPAR (+29.1% to $252.18).

The most notable decline in RevPAR was observed in Houston (-22.3% to $68.44) due to the comparison with its hosting period for the NCAA Men’s Final Four last year.

Additional Performance Data:
CoStar’s hotel performance sample, which is one of the largest globally, encompasses 81,000 properties and 10.5 million rooms. Members of the media seeking further data should refer to the contacts provided below.

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