by calculated risk April 12, 2024 08:11:00 AM
CoStar's latest data through April 6 shows that U.S. hotel performance was mixed from the previous week, but was positive year-over-year. …
March 31, 2024 to April 6, 2024 (% change from comparable week in 2023):
• Occupancy rate: 64.1% (+4.7%)
• Average daily amount (ADR): USD 156.96 (+2.1%)
• Revenue per available room (RevPAR): USD 100.59 (+6.9%)
Emphasis added
The following graph shows the seasonal pattern of hotel occupancy. 4 week average.
The red line is 2024, the black is 2020, the blue is the median, and the light blue dashed line is 2023. The dashed purple line is 2018, a record year for hotel occupancy.
Note: To better illustrate seasonal changes, the Y-axis does not start at zero.
The four-week average of occupancy rates is expected to remain relatively flat seasonally through the summer travel season.