Skip to content

Search

Latest Stories

CoStar: U.S. hotel performance positive YoY in first week of October

Chicago's occupancy surged by 11.2 percent, reaching 74.9 percent

CoStar: U.S. hotel performance positive YoY in first week of October

U.S. HOTEL PERFORMANCE has increased from the previous week, aligning with the extended holiday weekend, while year-over-year comparisons also continue to show positive trends, according to CoStar. The percentage changes showed positivity on weekdays due to comparisons with the Yom Kippur period from the previous year, but year-over-year occupancy rates still experienced a decline.

Occupancy stood at 67.8 percent for the week ending on Oct. 7, a slight rise from the preceding week's 66.7 percent, with a marginal year-over-year decline of 0.2 percent, according to CoStar. ADR was $163.19, showing an increase from the previous week's $157.89 and a notable 5.4 percent surge compared to the previous year. RevPAR also saw an uptick to $110.68, surpassing the previous week's $105.31, and reflecting a 5.2 percent rise from 2022.


Among the top 25 markets, Chicago saw the only double-digit increase in occupancy, rising by 11.2 percent to reach 74.9 percent.

New York City recorded the most significant ADR increase, soaring 13.9 percent to $358.81.

Boston registered the most substantial year-over-year increase in RevPAR, surging by 23.1 percent to $242.49.

Tampa saw the steepest declines in both occupancy, dropping 18.5 percent to 65.2 percent, and RevPAR, down 18.0 percent to $102.38.

More for you

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.

Keep ReadingShow less