The U.S. hotel industry reported positive year-over-year comparisons, according to CoStar’s latest data through Oct. 26.
Oct. 20-26 (percentage change from comparable week in 2023):
- Occupancy: 69.0 percent (+4.5 percent)
- Average daily rate: $168.69 (+4.6 percent)
- Revenue per available room (RevPAR): $116.32 (+9.3 percent)
Among the Top 25 Markets, Tampa saw the largest occupancy lift (+28.1 percent to 84.2 percent), due to continued displacement demand from Hurricane Milton.
New Orleans saw the highest increases in ADR (+64.1 percent to $301.30) and RevPAR (+77.6 percent to $227.24). The market’s performance was driven by Taylor Swift’s Eras Tour.
The steepest RevPAR declines were seen in Las Vegas (-7.9 percent to $196.40) and Minneapolis (-6.5 percent to $86.31).