CoStar: U.S. hotel performance up in second week of June with mixed YoY results

San Francisco recorded the highest year-over-year increases across all key metrics

0
470
Occupancy rose to 70.3 percent for the week ending June 15, up from 69.1 percent the previous week. ADR increased to $161.70 from $160.90, and RevPAR increased to $113.62 from $111.26.

U.S. HOTEL PERFORMANCE improved in the second week of June compared to the previous week, showing mixed year-over-year results, according to CoStar. All key metrics, including occupancy, RevPAR and ADR, increased compared to the prior week.

Occupancy rose to 70.3 percent for the week ending June 15, up from 69.1 percent the previous week, despite a slight 0.6 percent year-over-year decrease. ADR increased to $161.70 from $160.90, a 0.9 percent rise compared to last year. RevPAR increased to $113.62 from $111.26 the previous week, marking a 0.3 percent increase compared to the same period in 2023.

Among the top 25 markets, San Francisco recorded the highest year-over-year increases: occupancy rose 14.8 percent to 71.1 percent, ADR increased 11.3 percent to $226.70, and RevPAR grew 30.3 percent to $179.97. The market’s performance was boosted by the Data + AI Summit.

The steepest RevPAR declines were seen in New Orleans, down 13.5 percent to $76.72, and Los Angeles, down 11.4 percent to $151.45.