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STR: U.S. hotel performance declines in last week of June

St. Louis occupancy rose by a significant 22.2 percent YoY, reaching 71.6 percent

STR: U.S. hotel performance declines in last week of June

U.S. HOTEL PERFORMANCE experienced a decline in the last week of June from the previous week, according to STR. However, year-over-year comparisons showed signs of improvement.

Occupancy dropped to 69.9 percent in the week ending July 1, declining from the previous week's 71.4 percent and experiencing a 4.1 percent decrease compared to 2022. ADR stood at $156.27, slightly lower than the previous week's $159, but still reflecting a 1.5 percent increase compared to the same period last year. RevPAR was $109.18, down from the previous week's $113.58, yet indicating a 5.7 percent increase compared to 2022.


Among the top 25 markets, St. Louis experienced the most significant year-over-year increases in occupancy, rising by 22.2 percent to reach 71.6 percent. Additionally, RevPAR saw growth of 39.3 percent, reaching $96.46.

Philadelphia achieved the largest increase in ADR, with a notable rise of 16.4 percent to reach $170.53.

The steepest RevPAR declines were observed in New Orleans, which decreased by 25.1 percent to $119.12, and Miami, which experienced a decline of 10.2 percent to $112.20.

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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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