This week in Hospitality & Tourism #11 2024

STR: U.S. hotel results for week ending 9 March

U.S. hotel performance increased from the previous week but declined year over year, according to CoStar’s latest data through 9 March.

• Among the Top 25 Markets, Minneapolis reported the largest year-over-year increases in each of the three key performance metrics: occupancy (+25.1% to 63.7%), ADR (+15.9% to US$143.12) and RevPAR (+45.1% to US$91.11).
• The steepest RevPAR declines were seen in Las Vegas (-30.6% to US$123.99) and Anaheim (-26.2% to US$139.21).

3-9 March 2024 (percentage change from comparable weeks in 2023):

• Occupancy: 63.2 (-2.2%)
• Average daily rate (ADR): US$156.96 (-0.6%)
• Revenue per available room (RevPAR): US$99.17 (-2.8%)