The U.S. hotel industry reported positive year-over-year comparisons, according to CoStar’s latest data through Oct. 19.
Oct. 13-19 (percentage change from comparable week in 2023):
- Occupancy: 70.1 percent (+1.6)
- Average daily rate: $169.85 (+2.5 percent)
- Revenue per available room: $119.01 (+4.2 percent)
Among the Top 25 Markets, Tampa saw the largest occupancy lift (+23.6 percent to 83.7 percent), due to continued displacement demand from Hurricane Milton.
Miami saw the highest increases in ADR (+29.9 percent to $245.28) and RevPAR (+35.5 percent to $179.72). The market’s performance was driven by Taylor Swift’s Eras Tour and Adobe MAX 2024.
The steepest RevPAR declines were seen in Las Vegas (-19.5 percent to $192.14) and Denver (-12.5 percent to $105.98).