Occupancy rate down 2.5% year-on-year

by Calculated Risk June 30, 2024 8:21 AM

The U.S. hotel industry saw weaker performance from the previous week and mixed results compared to a year ago, according to CoStar’s latest data through June 22.

June 16-22, 2024 (percent change from the same week in 2023):

• Market share: 69.5% (-2.5%)
• Average daily rate (ADR): USD 159.88 (+0.1%)
• Revenue per room (RevPAR): $111.17 (-2.3%)
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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.

The four-week average of occupancy rates is slightly below last year and below the median for the 2000-2023 period (blue).

Note: The y-axis does not start at zero to better illustrate seasonal changes.

Summer leisure travel leads to a seasonal increase in occupancy four-week averages.