Due to the Veteran’s Day calendar shift, the U.S. hotel industry reported mixed year-over-year performance comparisons, according to CoStar’s latest data through Nov. 16.
Nov. 10-16 (percentage change from comparable week in 2023):
- Occupancy: 63.3 percent (+1.5 percent)
- Average daily rate: $154.96 (-1.1 percent)
- Revenue per available room: $98.11 (+0.4 percent)
Among the Top 25 Markets, Tampa saw the largest increases across each of the three key performance metrics: occupancy (+30.3 percent to 87.2 percent), ADR (+17.4 percent to $176.73) and RevPAR (+52.9 percent to $154.16). The market’s performance was due to continued displacement demand from Hurricane Milton.
The steepest RevPAR declines were seen in Las Vegas (-47.1 percent to $136.28) and San Francisco (-27.8 percent to $139.74). Las Vegas’ performance was impacted by the Formula 1 calendar shift.