U.S. hotel performance showed mixed results over the previous week, according to CoStar’s latest data for the week of Feb. 18-24.
Feb. 18-24 (percentage change from comparable week in 2023):
- Occupancy: 62 percent (-3.3 percent)
- Average daily rate: $156.62 (+0.3 percent)
- Revenue per available room: $97.12 (-2.9 percent)
Top Markets
Among the Top 25 Markets, Minneapolis reported the largest year-over-year occupancy increase (+4.5 percent to 47.8 percent).
Las Vegas (+7.5 percent to $203.52) and Oahu Island (+7.5 percent to $303.54) matched for the highest ADR growth.
The steepest RevPAR declines were seen in New Orleans (-22.1 percent to $128.09) and Nashville (-20.2 percent to $104.30). The Mardi Gras calendar shift affected New Orleans’ performance.