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US Hotel Performance for Week Ending July 6

US Hotel Performance for Week Ending July 6

  • Among the top 25 markets, New Orleans saw the largest year-over-year increase in each of the three key performance metrics.

The U.S. hotel industry reported weaker week-over-week results and mixed year-over-year comparisons due to July 4, according to CoStar’s latest data as of July 6.

30 June-July 6, 2024 (percentage change compared to comparable week in 2023):

  • Occupancy: 61.3% (-0.9%)
  • Average daily rate (ADR): $157.27 (+0.5%)
  • Revenue per available room (RevPAR): $96.35 (-0.4%)

Among the Top 25 Markets, New Orleans Three key performance metrics saw the largest year-over-year increases in each: occupancy rate (up 15.5% to 56.6%), average daily revenue (up 35.1% to $197.23) and RevPAR (up 56.1% to $111.72).

The steepest RevPAR declines were seen in: St. Louis (-25.4% down to $58.65) and Tampa (Down 13.5% to $100.65).

CoStar is a leading provider of online real estate marketplaces, information and analytics for the real estate markets. For more information about the company and its products and services, please visit: www.costargroup.com.