Skip to content

Search

Latest Stories

CoStar: Thanksgiving holiday dims U.S. hotel performance in fourth week of November

October marked the 25th consecutive month of 4 percent or less supply growth

CoStar: Thanksgiving holiday dims U.S. hotel performance in fourth week of November

U.S. HOTEL PERFORMANCE witnessed an expected decline in the fourth week of November from the previous week, attributed to the Thanksgiving holiday, according to CoStar. Hotel occupancy, ADR, and RevPAR declined compared to the previous week.

Occupancy plummeted to 49.4 percent for the week ending Nov. 25, a stark decline from the previous week's 62.4 percent, reflecting a year-over-year decrease of 1.4 percent. ADR declined to $138.29, down from the previous week's $156.47, showing a 0.9 percent uptick from the prior year. RevPAR also dipped to $68.32, compared to the previous week's $97.61, marking a 0.6 percent decrease from the corresponding period in 2022.


Among the top 25 markets, Oahu Island experienced the highest year-over-year increases, with occupancy rising 9.4 percent to 76.3 percent and RevPAR increasing by 16.3 percent to $227.92.

Las Vegas recorded the highest ADR boost, surging by 10 percent to $158.13. Meanwhile, Minneapolis experienced the most significant RevPAR decline, dropping 18.8 percent to $38.93, followed by San Francisco, down 11.4 percent to $65.99.

More for you

CBRE: US Hotel RevPAR to Grow 1.3 Percent in 2025

CBRE: RevPAR to grow 1.3 percent in 2025

U.S. HOTEL REVPAR is expected to grow 1.3 percent in 2025, supported by urban markets from group and business travel and increased demand for drive-to and regional leisure destinations, according to CBRE. Occupancy is forecast to rise 14 basis points and ADR 1.2 percent year-over-year.

This represents slower growth than CBRE’s February forecast, which projected 2 percent RevPAR growth based on a 21-basis-point increase in occupancy and a 1.6 percent rise in ADR, the commercial real estate and investment firm said.

Keep ReadingShow less
Palette Hotels to Transform DoubleTree by Hilton in Washington, PA

Palette to manage Washington, PA, DoubleTree

Palette’s Expertise in Hospitality Management

SUNRISE GOLD HOSPITALITY recently selected Palette Hotels to manage its 140-room DoubleTree by Hilton Washington Meadow Lands Casino Area in Washington, Pennsylvania. Palette will oversee renovations, including Hilton Connected Rooms technology upgrades, new signage, landscaping, building systems and updates to the lobby, guestrooms, bathrooms, meeting spaces, restaurant, bar and lounge.

Sunrise Gold Hospitality is led by owner Ramesh Pandya, and Palette Hotels by Founder and CEO Richard Lou.

Keep ReadingShow less