by Calculated Risk July 18, 2024 3:54 PM
The U.S. hotel industry reported improved performance from the previous week but declined year-over-year, according to CoStar’s latest data through July 13.
July 7-13, 2024 (percent change from the same week in 2023):
• Market share: 69.2% (-3.7%)
• Average daily rate (ADR): $158.21 (-1.5%)
• Revenue per room (RevPAR): $109.51 (-5.2%)
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 will drive a seasonal increase in the occupancy four-week average. So far, the summer leisure travel season has been disappointing.
