This week in Hospitality & Tourism #7 2024
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STR: U.S. hotel results for week ending 10 February
U.S. hotel performance increased from the previous week, while year-over-year comparisons remained mixed, according to CoStar’s latest data through 10 February.
- Among the Top 25 Markets, Oahu Island saw the largest increase in occupancy (+8.0% to 82.9%).
- In its Super Bowl host week, Las Vegas reported the highest jumps in ADR (+126.1% to US$445.05) and RevPAR (+139.9% to US$335.61). Weekly occupancy grew 6.1% to 75.4%. On Friday and Saturday nights, Las Vegas’ occupancy topped 80%, and ADR ballooned to more than US$700.
- Although Phoenix hosted the WM Open, the market reported the steepest RevPAR decline (-33.9% to US$198.13) because of comparison to its Super Bowl host period last year.
4-10 Feb 2024 (percentage change from comparable weeks in 2023):
- Occupancy: 56.2 (-2.7%)
- Average daily rate (ADR): US$160.96 (+6.8%)
- Revenue per available room (RevPAR): US$90.40 (+3.9%)
