The U.S. hotel industry reported higher performance results month over month, according to February data from CoStar.
For the month (percentage change from February 2023):
- Occupancy: 58.9 percent (-1.8 percent)
- Average daily rate: $158.23 (+3.9 percent)
- Revenue per available room: $93.19 (+2 percent)
Top Markets
Among the top 25 markets, Oahu Island experienced the highest occupancy level (84 percent), which was up 6.6 percent year over year.
Helped by Super Bowl LVIII, Las Vegas reported the highest ADR (+61.9 percent to $301.35) and RevPAR (+69.9 percent to $247.44) levels.
Markets with the lowest occupancy for the month included Minneapolis (46.1 percent) and Chicago (49.4 percent).
The top 25 markets showed higher occupancy and ADR than all other markets.