by Calculated Risk July 14, 2024 8:15 AM
CoStar’s latest data through July 6 showed that the U.S. hotel industry saw weaker performance from the previous week due to the Fourth of July holiday, and performance compared to a year ago was mixed.
June 30 to July 6, 2024 (percent change from the same week in 2023):
• Market share: 61.3% (-0.9%)
• Average daily rate (ADR): USD 157.27 (+0.5%)
• Revenue per room (RevPAR): $96.35 (-0.4%)
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.
Summer leisure travel leads to a seasonal increase in occupancy four-week averages.
