Occupancy rate down 1.7% year-on-year

by Calculated Risk September 20, 2024, 9:01 AM

According to CoStar’s latest data through September 14, the U.S. hotel industry was mostly down compared to last year.

September 8-14, 2024 (percent change from the same week in 2023):

• Market share: 66.6% (-1.7%)
• Average daily rate (ADR): USD 162.05 (+0.2%)
• Revenue per room (RevPAR): $107.86 (-1.4%)
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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 remains consistent with last year and is approaching the median for the 2000-2023 period (blue).

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

Four-week average occupancy rates will increase over the coming weeks during the fall business travel season.