As anticipated for election week, the U.S. hotel industry experienced a decline in year-over-year (YOY) performance, as reported by CoStar’s latest data for the week ending Nov. 9.
Here’s a summary of the performance from Nov. 3-9 (compared to the same week in 2023):
- Occupancy: 62.6% (-3.5%)
- Average Daily Rate (ADR): $156.11 (-0.1%)
- Revenue Per Available Room (RevPAR): $97.73 (-3.5%)
Among the top 25 markets, Las Vegas experienced the most significant improvements across all three key performance indicators: occupancy rose by 6.8% to reach 85.4%, ADR increased by 28.2% to $256.38, and RevPAR saw a remarkable jump of 36.9% to $219.07.
Conversely, the most substantial declines in RevPAR were noted in San Francisco, which fell by 35.2% to $111.40, and in Washington, DC, where it dropped by 27.9% to $95.89.
This overview of U.S. hotel performance for the week ending Nov. 9 was originally published on hotelbusiness.com.
