by Calculated Risk June 11, 2024 8:11 AM
According to CoStar’s latest data through June 1, the U.S. hotel industry saw a decline in business from the previous week due to Memorial Day, but was slightly better than last year.
May 26 to June 1, 2024 (percent change from the same week in 2023):
• Occupancy rate: 62.0% (+0.9%)
• Average daily rate (ADR): USD 150.87 (+0.1%)
• Revenue per room (RevPAR): US$93.50 (+1.0%)
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 blue is the median, and the dashed light blue line is 2023. The dashed purple line is 2018, the year when hotel occupancy rates hit an all-time high.
Note: The y-axis does not start at zero to better illustrate seasonal changes.
The four-week average of occupancy rates increases seasonally with the summer travel season.
