CoStar: U.S. hotel performance rises in second week of February

U.S. HOTEL PERFORMANCE rose in the second week of February compared to the previous week, according to CoStar. However, year-over-year comparisons remained mixed. Key metrics, such as occupancy, ADR, and RevPAR, all showed increases in the second week of February compared to the preceding week.

Occupancy rose to 56.2 percent for the week ending Feb. 10, from the previous week's 55.2 percent, reflecting a 2.7 percent year-over-year decrease. ADR increased to $160.96 from $147.99 the prior week, marking a 6.8 percent rise compared to the previous year. RevPAR also increased to $90.4 from $81.69 the prior week, reflecting a 3.9 percent increase compared to the corresponding period in 2023.

Among the top 25 markets, Oahu Island saw the largest year-over-year increases, with occupancy rising 8 percent to 82.9 percent.

During its Super Bowl host week, Las Vegas reported significant increases, with ADR rising by 126.1 percent to $445.05 and RevPAR jumping by 139.9 percent to $335.61. Weekly occupancy also grew by 6.1 percent to reach 75.4 percent. On Friday and Saturday nights, Las Vegas experienced occupancy rates exceeding 80 percent, with ADR soaring to over $700.

Despite hosting the WM Open, Phoenix reported the sharpest decline in RevPAR, down 33.9 percent to $198.13, attributed to comparisons with its Super Bowl hosting period last year.