he U.S. hotel industry reported mixed year-over-year comparisons, according to CoStar’s latest data through May 24.
May 18-24 (percentage change from comparable week in 2024):
- Occupancy: 67.5 percent (-0.4 percent)
- Average daily rate: $164.57 (+1.5 percent)
- Revenue per available room: $111.02 (+1.1 percent)
Demand for the Friday and Saturday of Memorial Day weekend was the third highest on record behind 2022 and 2019.
Among the Top 25 Markets, St. Louis saw the highest gain in occupancy (+19.3 percent to 76.7 percent), while the largest inclines in ADR and RevPAR were recorded in New York City (+12.6 percent to $358.57) and San Francisco/San Mateo (+24.3 percent to $169.87), respectively.
The steepest decline in occupancy was seen in Houston (-16.2 percent to 62.1 percent).
New Orleans reported the largest decreases in ADR (-7.3 percent to $155.45) and RevPAR (-17.8 percent to $94.78).