Occupancy rate increased by 1.9% compared to the previous year

by calculated risk 11/08/2024 02:11:00 PM

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

From October 27, 2024 to November 2, 2024 (% change from comparable week in 2023):

• Occupancy rate: 60.8% (+1.9%)
• Average daily amount (ADR): USD 154.99 (+1.2%)
• Revenue per available room (RevPAR): USD 94.22 (+3.1%)
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 year ended on a strong note, with the four-week average of occupancy being above both last year and the 2000-2023 median (blue).

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

The four-week average of occupancy peaks during the fall business travel season and declines seasonally during the holiday period.