CoStar: U.S. hotel performance shows mixed results in first week of May

Seattle sees the highest YOY occupancy surge, rising by 8.1 percent to 69.4 percent

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U.S. hotel occupancy trends May 2024
Occupancy dropped to 64.4 percent for the week ending May 4, down from the previous week's 65.7 percent, marking a 0.8 percent year-over-year decrease, according to CoStar. ADR rose to $159.97 from $154.44, reflecting a 1.3 percent increase compared to last year. RevPAR rose to $103.09, up from $101.42 the prior week, indicating a 0.5 percent increase compared to the same period in 2023.

U.S. HOTEL PERFORMANCE exhibited mixed results in the first week of May compared to the prior week, according to CoStar. Among key metrics, occupancy declined, whereas both RevPAR and ADR saw an uptick.

Occupancy dropped to 64.4 percent for the week ending May 4, down from the previous week’s 65.7 percent, marking a 0.8 percent year-over-year decrease. ADR rose to $159.97 from $154.44, reflecting a 1.3 percent increase compared to last year. RevPAR climbed to $103.09, up from $101.42 the prior week, indicating a 0.5 percent increase compared to the same period in 2023.

Among the top 25 markets, Seattle reported the highest year-over-year increase in occupancy, rising by 8.1 percent to 69.4 percent. Dallas recorded the largest increase in ADR, up 5.8 percent to $134.33.

The steepest RevPAR declines were observed in Atlanta, dropping by 12.7 percent to $85.87, and in San Francisco, down 12.5 percent to $123.02.