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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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Kabani Hotel Group to Host 9th Annual Investment Forum Miami

Kabani gears up for annual investment forum

Summary:

  • Kabani will host its 9th annual hotel investment forum on Oct. 30.
  • More than 350 hotel owners, investors and brand executives are expected to attend.
  • The theme is “The Best Way to Predict the Future is to Create It.”

KABANI HOTEL GROUP will host its 9th Annual Hotel Investment Forum on Oct. 30 at the JW Marriott Marquis Miami. More than 350 hotel owners, investors, developers and brand executives are expected to attend.

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