Occupancy rate increased by 1.6% compared to the previous year

by calculated risk October 25, 2024 08:22:00 AM

The U.S. hotel industry reported positive year-over-year results, according to CoStar’s latest data through Oct. 19. …

October 13-19, 2024 (% change from comparable week in 2023):

• Occupancy rate: 70.1% (+1.6)
• Average daily amount (ADR): USD 169.85 (+2.5%)
• Revenue per available room (RevPAR): USD 119.01 (+4.2%)
Emphasis added

The following graph shows the seasonal pattern of hotel occupancy. 4 week average.

Click on the graph to see a larger image.

The red line is 2024, the blue is the median, and the light blue dashed line is 2023. The dashed purple line is 2018, a record year for hotel occupancy.

The four-week average of occupancy is higher than both last year and the median for the 2000-2023 period (blue).

Note: To better illustrate seasonal changes, the Y-axis does not start at zero.

The four-week average for occupancy is near the peak of the fall business travel season and then declines during the holidays.