This week in Hospitality & Tourism #24 2024

STR: U.S. hotel results for week ending 8 June

The U.S. hotel industry reported higher performance results from the previous week but mixed comparisons year over year, according to CoStar’s latest data through 8 June.

• Among the Top 25 Markets, Houston saw the highest year-over-year increases in occupancy (+14.8% to 71.1%) and RevPAR (+19.3% to US$85.20).
• New York City reported the largest lift in ADR (+9.1% to $358.25).
• The steepest RevPAR declines were seen in Detroit (-8.7% to US$83.43) and Atlanta (-6.8% to US$85.63).

2-8 June 2024 (percentage change from comparable weeks in 2023):

• Occupancy: 69.1 (-0.1%)
• Average daily rate (ADR): US$160.90 (+1.8%)
• Revenue per available room (RevPAR): US$111.26 (+1.7%)