The U.S. hotel industry reported higher performance results than the previous week and positive comparisons year over year, according to CoStar’s latest data through July 20.
July 14-20 (percentage change from comparable week in 2023):
- Occupancy: 73.5 percent (+1.0 percent)
- Average daily rate: $165.91 (+2.4 percent)
- Revenue per available room: $122.02 (+3.4 percent)
The U.S. RevPAR level was the highest for any week on record.
Among the Top 25 Markets, Houston saw the highest year-over-year increases in each of the three key performance metrics: occupancy (+29.6 percent to 82.2 percent), ADR (+20.3 percent to $135.65) and RevPAR (+56.0 percent to $111.49). The market’s performance was impacted by the effects of Hurricane Beryl.
The steepest RevPAR declines were seen in San Francisco (-14.1 percent to $140.09) and Seattle (-12.4 percent to $195.52).