By ~ calculated risk 8/04/2024 08:11:00 AM
The U.S. hotel industry underperformed the previous week and posted mixed results year over year, according to the latest data from CoStar through July 27.
July 21-27, 2024 (percentage change compared to 2023 comparison week):
• Market share: 72.0% (-0.4%)
• Average Daily Rate (ADR): US$164.45 (+1.3%)
• Revenue per available room (RevPAR): $118.37 (+0.9%)
Emphasis added
The following graph shows seasonal patterns in hotel occupancy. 4 week average.
The red line is 2024, the blue is the median, and the dotted blue line is 2023. The dotted purple line is 2018, the year when hotel occupancy reached a record high.
Note: To better show seasonal changes, the Y-axis does not start at 0.
The four-week average room occupancy rate is expected to increase seasonally for one to two weeks due to summer vacation travel.
