CoStar: U.S. hotel metrics rise in first week of June, yearly trends vary

Houston recorded the highest YOY occupancy increase, up 14.8 percent to 71.1 percent

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U.S. hotel performance June 2024
Occupancy increased to 69.1 percent for the week ending June 8, up from 62 percent the previous week, according to CoStar. ADR rose to $160.90 from $150.87, and RevPAR increased to $111.26 from the previous week’s $93.50.

U.S. HOTEL PERFORMANCE improved in the first week of June compared to the previous week, with mixed year-over-year results, according to CoStar. All key metrics, including occupancy, RevPAR, and ADR, rose compared to the prior week.

Occupancy rose to 69.1 percent for the week ending June 8, up from 62 percent the previous week, with a slight 0.1 percent year-over-year decrease. ADR increased to $160.90 from $150.87, showing a 1.8 percent rise compared to last year. RevPAR increased to $111.26 from the previous week’s $93.50, marking a 1.7 percent increase compared to the same period in 2023.

Among the top 25 markets, Houston saw the highest year-over-year increases in occupancy, rising 14.8 percent to 71.1 percent, and in RevPAR, increasing 19.3 percent to $85.20. New York City recorded the largest increase in ADR, rising 9.1 percent to $358.25.

Detroit experienced the sharpest RevPAR decline, dropping 8.7 percent to $83.43, followed by Atlanta, down 6.8 percent to $85.63.