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CoStar: Veteran’s Day scrambles hotel performance in week ending Nov. 16

Tampa, Florida, saw the most improved performance among the top 25 markets

CoStar: Veteran’s Day scrambles hotel performance in week ending Nov. 16

THE VETERAN’S DAY calendar shift led to mixed year-over-year performance comparisons for the U.S. hotel industry in the second full week of November, according to CoStar. Tampa, Florida, saw the most improved performance among the top 25 markets.

Occupancy rose to 63.3 percent for the week ending Nov. 16, up from 62.6 percent the prior week and a 1.5 percent year-over-year increase. ADR dropped to $154.96 from $156.11, reflecting a 1.1 percent year-over-year decline. RevPAR grew to $98.11 from $97.73, showing a 0.4 percent increase compared to the same week in 2023.


Continued displacement demand from Hurricane Milton led to Tampa seeing the largest increases across each of the performance metrics, with occupancy rising 30.3 percent to 87.2 percent, ADR up 17.4 percent to $176.73 and RevPAR increasing 52.9 percent to $154.16.

The steepest RevPAR declines were seen in Las Vegas, dropping 47.1 percent to $136.28, and San Francisco, decreasing 27.8 percent to $139.74. Las Vegas’ performance was impacted by the Formula 1 calendar shift.

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U.S. Hotel Construction Drops to 40-Quarter Low: CoStar

CoStar: U.S. hotel construction hits 40-quarter low

Summary:

  • U.S. hotel rooms under construction fell year over year for the ninth month, CoStar reported.
  • About 137,956 rooms were under construction in September, down 12.3 percent from 2024.
  • In September, 12,746 midscale and 4,559 economy rooms were under construction.

U.S. HOTEL ROOMS under construction fell year over year for the ninth consecutive month in September, reaching the lowest level in 40 quarters, according to CoStar. Still, more rooms are under construction now than after the Great Recession.

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