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CoStar: U.S. hotel performance mixed in first week of April, positive YOY

WrestleMania 40 drove Philadelphia's key metric performance

CoStar: U.S. hotel performance mixed in first week of April, positive YOY

U.S. hotel performance showed mixed results in the first week of April compared to the previous week, yet displayed positive year-over-year comparisons, according to CoStar. Occupancy and RevPAR outperformed ADR in key metrics.

Occupancy rose to 64.1 percent for the week ending April 6, up from the previous week's 62.3 percent, marking a 4.7 percent year-over-year increase. ADR slightly decreased to $156.96 from $157.14, reflecting a 2.1 percent increase compared to last year. RevPAR increased to $100.59 from $97.83 the previous week, signaling a 6.9 percent rise compared to the same period in 2023.


Among the top 25 markets, Philadelphia reported the largest year-over-year occupancy increase, up 17.5 percent to 66.1 percent, with the second-highest jumps in ADR, rising 17.3 percent to $165.11. RevPAR also increased by 37.8 percent to $109.10, driven by WrestleMania 40.

Boosted by the NCAA Men’s Final Four, Phoenix experienced notable rises in ADR, up by 24.8 percent to $237.38, and RevPAR, which surged by 39.7 percent to $184.07.

The steepest RevPAR declines were seen in Orlando, dropping by 7.7 percent to $163.05, followed by Tampa, which decreased by 7.1 percent to $162.81.

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U.S. Hotel Construction Drops to 40-Quarter Low: CoStar

CoStar: U.S. hotel construction hits 40-quarter low

Summary:

  • U.S. hotel rooms under construction fell year over year for the ninth month, CoStar reported.
  • About 137,956 rooms were under construction in September, down 12.3 percent from 2024.
  • In September, 12,746 midscale and 4,559 economy rooms were under construction.

U.S. HOTEL ROOMS under construction fell year over year for the ninth consecutive month in September, reaching the lowest level in 40 quarters, according to CoStar. Still, more rooms are under construction now than after the Great Recession.

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