This week in Hospitality & Tourism #13 2024

STR: U.S. hotel results for week ending 23 March

U.S. hotel performance decreased from the previous week but showed positive comparisons year over year, according to CoStar’s latest data through 23 March.

• Among the Top 25 Markets, New Orleans reported the largest year-over-year increase in occupancy (+13.6% to 75.5%).
• Las Vegas posted the highest ADR lift (+14.2% to US$217.27).
• The steepest RevPAR declines were seen in Chicago (-12.0% to US$87.95) and Nashville (-10.0% to US$131.14).

17-23 March 2024 (percentage change from comparable weeks in 2023):

• Occupancy: 65.3 (+0.7%)
• Average daily rate (ADR): US$162.28 (+2.5%)
• Revenue per available room (RevPAR): US$106.01 (+3.2%)