CoStar: U.S. hotel performance up in third week of March despite YOY declines

Anaheim saw the highest ADR increase, rising 18 percent to $254.73

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U.S. hotel performance March
Occupancy rose to 66.5 percent for the week ending March 16, up from the prior week's 63.2 percent, with a 1.4 percent year-over-year decline, according to CoStar. ADR increased to $163.21 from $156.96 the previous week, reflecting a 2.1 percent decrease compared to last year. RevPAR reached $108.51, up from the previous week’s $99.17, but signifying a 3.5 percent decrease compared to the same period in 2023.

U.S. HOTEL PERFORMANCE saw an uptick in the third week of March compared to the previous week, although year-over-year figures continued to decline, according to CoStar. Key metrics such as occupancy, ADR and RevPAR continued their upward trajectory during this period compared to the preceding week.

Occupancy increased to 66.5 percent for the week ending March 16, up from the previous week’s 63.2 percent, reflecting a 1.4 percent year-over-year decline. ADR rose to $163.21 from $156.96 the previous week, marking a 2.1 percent decrease compared to last year. RevPAR reached $108.51, up from the previous week’s $99.17, signifying a 3.5 percent decrease compared to the same period in 2023.

Among the top 25 markets, Seattle reported significant year-over-year increases in occupancy, rising by 12.7 percent to 73 percent, and in RevPAR, which increased by 21.7 percent to $120.29.

Anaheim recorded the highest ADR increase, rising by 18 percent to $254.73.

The steepest RevPAR declines were observed in Las Vegas, down by 41 percent to $167.50, and in New Orleans, which decreased by 19 percent to $139.05.