The U.S. hotel industry reported lower performance results from the previous month but positive comparisons year over year, according to August 2024 data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
August 2024 (percentage change from August 2023):
- Occupancy: 66.9% (+1.5%)
- Average daily rate (ADR): US$157.84 (+2.3%)
- Revenue per available room (RevPAR): US$105.67 (+3.9%)
Among the Top 25 Markets, New York City experienced the highest occupancy level (+5.2% to 87.3%).
Markets with the lowest occupancy for the month included New Orleans (54.1%) and Phoenix (58.4%).
The Top 25 Markets showed higher occupancy and ADR than all other markets.
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Additional Performance Data
CoStar’s world-leading hotel performance sample comprises 85,000 properties and 11 million rooms around the globe. Members of the media should refer to the contacts listed below for additional data requests.
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