This week in Hospitality & Tourism #1 2024

STR: U.S. hotel results for week ending 30 December

U.S. hotel performance increased from the previous week, while year-over-year comparisons were skewed downward due to a calendar shift, according to CoStar’s latest data through 30 December.

• Year-over-year comparisons were negative as the comparable week from 2022 (25 December-31 December) ended with New Year’s Eve.
• Among the Top 25 Markets, Miami saw the largest year-over-year increase in occupancy (+3.9% to 79.6%). The market’s performance was helped by the Capital One Orange Bowl and New Year’s Eve weekend.
• Anaheim posted the highest gains in ADR (+11.9% to US$219.71) and RevPAR (+12.5% to US$160.25).
• The steepest RevPAR declines were seen in Las Vegas (-28.3% to US$112.79) and Nashville (-27.0% to US$80.19).

24-30 December 2023 (percentage change from comparable weeks in 2022, 2019):

• Occupancy: 50.1 (-7.1%, +2.2%)
• Average daily rate (ADR): US$163.58 (-2.8%, +18.1%)
• Revenue per available room (RevPAR): US$82.01 (-9.7%, +20.8%)