Due to Memorial Day, the U.S. hotel industry reported lower performance results during the week of May 26 to June 1 from the previous week but slightly positive comparisons year over year, according to CoStar’s latest data.
For the week (percentage change from comparable week in 2023):
- Occupancy: 62 percent (+0.9 percent)
- Average daily rate: $150.87 (+0.1 percent)
- Revenue per available room: $93.50 (+1 percent)
Top Markets
Among the top 25 markets, New Orleans saw the highest year-over-year occupancy lift (+17.8 percent to 66.8 percent).
Las Vegas reported the largest increase in ADR (+7.4 percent to $177.13).
Dallas reported the largest jump in RevPAR (+22.5 percent to $86.07) and the second-highest increase in ADR (+6.9 percent to $120.55). Severe storms in the market drove performance after many residents were left without power.
The steepest RevPAR declines were seen in Washington, D.C. (-10.3 percent to $105.24) and Denver (-7.6 percent to $93.92).