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

Houston posted the highest year-over-year increases in key performance metrics

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

THE U.S. HOTEL industry reported higher performance in the second week of July compared to the previous week, but lower year-over-year results, according to CoStar. The first hurricane of the season impacted one top 25 market.

Occupancy climbed to 69.2 percent for the week ending July 13, up from 61.3 percent the previous week, but down 3.7 percent year-over-year. ADR increased to $158.21 from $157.27, marking a 1.5 percent decline compared to last year. RevPAR increased to $109.51 from $96.35 the previous week, reflecting a 5.2 percent decrease from the same period in 2023.


Among the top 25 markets, Houston recorded the highest year-over-year increases in key performance metrics: occupancy rose 13.4 percent to 72.2 percent, ADR increased 22.4 percent to $137.17, and RevPAR grew 38.8 percent to $98.97. The market's performance was impacted by Hurricane Beryl.

The steepest RevPAR declines were in Denver, down 29.4 percent to $125.40, and San Diego, down 26.7 percent to $188.40.

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Hospitality Leaders Call For End to U.S. Government Shutdown
Photo by Win McNamee/Getty Images

Hospitality leaders call for end to shutdown

Summary:

  • Hospitality leaders urged a vote on the Senate-passed bill to end the government shutdown.
  • The hotel industry has lost an estimated $1.2 billion in economic activity.
  • The House is set to vote this evening on the Senate-backed bill, according to CNN.

LEADERS FROM THE American Hotel & Lodging Association, Airlines for America, U.S. Travel Association and the National Restaurant Association urged the House of Representatives to vote on the Senate-passed agreement to end the government shutdown. Meanwhile, senators approved a funding package to reopen the federal government and sent the deal to the House.

The House is set to vote this evening on the Senate-backed bill, according to CNN. Speaker Mike Johnson must secure support from his narrow GOP majority but told reporters he is “optimistic.”

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