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Economy

Market share decreased by 3.4% compared to the previous year

MONews
MONews
1 Min Read
Market share decreased by 3.4% compared to the previous year

by calculated risk October 13, 2024 09:20:00 AM

Due to Rosh Hashana, the U.S. hotel industry reported negative year-over-year results, according to CoStar’s latest data through Oct. 5. …

From September 29 to October 5, 2024 (percentage change from comparable week in 2023):

• Share: 65.6% (-3.4%)
• Average Daily Rate (ADR): US$156.25 (-4.4%)
• Revenue per Available Room (RevPAR): US$102.44 (-7.7%)
Emphasis added

The following graph shows the seasonal pattern of hotel occupancy using: 4 week average.

Click on the graph to see a larger image.

The red line is 2024, the blue is the median, and the light blue dotted line is 2023. The purple dotted line is 2018, the year with the highest hotel occupancy.

Four-week average occupancy rates track average occupancy rates over the past year and from 2000 to 2023 (in blue).

Note: To better show seasonal changes, the Y axis does not start at 0.

The four-week average room occupancy rate is close to the peak during the peak business travel season in the fall, and is expected to decline during the subsequent holiday period.

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