The U.S. hotel industry reported positive year-over-year performance comparisons at the end of 2024, according to CoStar’s latest data.
Growth was elevated due to the Hanukkah calendar shift as well as the compressed business travel period between Thanksgiving and Christmas. As expected, actual levels were significantly lower than the prior week because of the seasonal slowdown.
For the week of Dec. 15-21 (percentage change from comparable week in 2023):
- Occupancy: 48.9 percent (+11.4 percent)
- Average daily rate: $135.79 (+2.7 percent)
- Revenue per available room: $66.36 (+14.3 percent)
Over the Christmas week itself, the industry reported negative year-over-year comparisons. For the week of Dec. 22-28 (percentage change from comparable week in 2023):
- Occupancy: 47.7 percent (-4.9 percent)
- ADR: $160.96 (-1.7 percent)
- RevPAR: $76.83 (-6.5 percent)
Top Markets
Among CoStar’s top 25 markets, Tampa, Fla., reported the largest year-over-year increases in occupancy (+37.9 percent to 71.5 percent) and RevPAR (+63.8 percent to $110.51) for the week of Dec. 15-21. The market has been among the national performance growth leaders in recent months due in part to hurricane recovery demand.
New York City once again reported the highest ADR lift (+20.1 percent to $351.39).
Hawaii's Oahu Island was the only major market with decreases in each of the three key metrics: occupancy (-4 percent to 66.4 percent), ADR (-16.7 percent to $259.60) and RevPAR (-20 percent to $172.27).
For the week of Dec. 22-28, Tampa reported the only double-digit increases in occupancy (+16.3 percent to 74 percent) and RevPAR (+22.6 percent to $124.36).
Houston posted the highest ADR lift (+5.6 percent to $97.82).
The steepest RevPAR declines were reported in Nashville (-35.6 percent to $51.68) and Atlanta (-21.7 percent to $40.05).