U.S. hotel performance increased from the previous week but declined year over year, according to CoStar’s latest data through March 9.
March 3-9 (percentage change from comparable week in 2023):
- Occupancy: 63.2 percent (-2.2 percent)
- Average daily rate: $156.96 (-0.6 percent)
- Revenue per available room: $99.17 (-2.8 percent)
Among the top 25 markets, Minneapolis reported the largest year-over-year increases in each of the three key performance metrics: occupancy (+25.1 percent to 63.7 percent), ADR (+15.9 percent to $143.12) and RevPAR (+45.1 percent to $91.11).
The steepest RevPAR declines were seen in Las Vegas (-30.6 percent to $123.99) and Anaheim (-26.2 percent to $139.21).