by Calculated Risk May 24, 2024 11:01 AM
According to the latest data from CoStar through May 18, the U.S. hotel industry saw an increase in business from the previous week and a strong performance compared to last year.
May 12-18, 2024 (percent change from the same week in 2023):
• Occupancy rate: 67.4% (+0.2%)
• Average daily rate (ADR): USD 163.11 (+2.6%)
• Revenue per room (RevPAR): $109.93 (+2.8%)
Add emphasis
The following graph shows the seasonal patterns of hotel occupancy. 4 week average.
Click on the graph to enlarge the image.
The red line is 2024, the black is 2020, the blue is the median, and the dashed light blue line is 2023. The dashed purple line is 2018, the year when hotel occupancy rates were at an all-time high.
Note: The y-axis does not start at zero to better illustrate seasonal changes.
As the summer travel season begins, the four-week average of occupancy rates increases seasonally.
