The U.S. hotel industry reported improved performance results from the previous month, according to February data from CoStar.
For the month (percentage change from February 2024):
- Occupancy: 59.1 percent (+0.5 percent)
- Average daily rate: $159.39 (+1.4 percent)
- Revenue per available room: $94.24 (+1.9 percent)
In contrast, January's numbers were:
- Occupancy: 52.5 percent
- Average daily rate: $151.20
- Revenue per available room: $79.42
Top Markets
Among CoStar's top 25 markets, Tampa, Fla., experienced the highest occupancy level (+9.2 percent to 86.4 percent).
Markets with the lowest occupancy for the month included Minneapolis (49.5 percent) and St. Louis (50.7 percent).
The top 25 markets showed higher occupancy and ADR than all other markets.