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CoStar: Thanksgiving shift slows YOY hotel performance

Tampa and Oahu saw the biggest performance gains among the top 25 markets

CoStar: Thanksgiving shift slows YOY hotel performance

THE SHIFT IN the Thanksgiving calendar led to lower year-over-year performance for the U.S. hotel industry in the fourth week of November, according to CoStar. Occupancy, RevPAR and ADR all declined compared to the prior week.

Tampa and Oahu saw the strongest performance improvements among the top 25 markets.


Occupancy dropped to 50 percent for the week ending Nov. 30, down from 59.7 percent the previous week and 7.7 percent lower year-over-year. ADR fell to $141.09, down from $150.49 the prior week and 3 percent lower than the same week last year. RevPAR decreased to $70.59 from $89.80, reflecting a 10.5 percent drop compared to the same period in 2023.

Among the top 25 markets, Tampa had the highest year-over-year occupancy increase, rising 13.2 percent to 69 percent, while RevPAR grew 22.6 percent to $106.16. Oahu reported the largest ADR increase, climbing 12.8 percent to $286.39.

Overall, 19 of the top 25 markets reported a decline in RevPAR, with Las Vegas experiencing the steepest drop, falling 56 percent to $86.03.

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  • Policy shifts and trade tensions shaped the U.S. hospitality industry.
  • A congressional deadlock triggered a federal shutdown from Oct. 1 to Nov. 12.
  • Visa limitations and the immigration crackdown dampened international travel.

THE U.S. HOSPITALITY industry navigated a year of policy shifts, leadership changes, trade tensions and reflection. From Washington’s decisions affecting travel and tourism to industry gatherings and the loss of influential figures, these stories dominated conversation and shaped the sector.

Policy uncertainty took center stage as Washington ground to a halt. A congressional deadlock over healthcare subsidies and spending priorities triggered a federal government shutdown that began on Oct. 1 and lasted until Nov. 12. The U.S. Travel Association warned the shutdown could cost the travel economy up to $1 billion per week, citing disruptions at federal agencies and the Transportation Security Administration. Industry leaders said prolonged gridlock would further strain hotels already facing rising costs and workforce challenges.

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