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CoStar: U.S. hotel performance falls in early August despite YOY gains

Houston recorded the largest year-over-year occupancy increase, rising 28.1 percent to 75.8 percent

CoStar: U.S. hotel performance falls in early August despite YOY gains

U.S. HOTEL PERFORMANCE continued to decline in the first week of August compared to the previous week, despite slightly positive year-over-year comparisons, according to CoStar. Key metrics, including occupancy, RevPAR and ADR, all fell from the prior week.

Occupancy reached 69.4 percent for the week ending Aug. 3, down from 72 percent the previous week, yet showing a 0.8 percent year-over-year increase. ADR stood at $159.63, compared to $164.45 the prior week, reflecting a 0.6 percent increase from last year. RevPAR dropped to $110.84 from $118.37 the previous week but was 1.3 percent higher compared to the same period in 2023.


Among the top 25 markets, Houston experienced the highest year-over-year increase in occupancy, up 28.1 percent to 75.8 percent, and RevPAR rose 45.7 percent to $93.88.

Houston and Philadelphia recorded the largest ADR increases, up 13.7 percent to $123.82 and $161.02, respectively. Anaheim and Los Angeles experienced the steepest RevPAR declines, dropping 12 percent to $171.55 and 10.7 percent to $158.64, respectively.

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AHLA Fdn.Testifies on Anti-Human Trafficking Efforts
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AHLA Foundation testifies on anti-trafficking efforts

Summary:

  • The AHLA Foundation testified on lodging industry anti-trafficking efforts.
  • Testimony focused on efforts ahead of major global events.
  • The hotel industry has conducted more than 2.5 million anti-trafficking trainings to date.

THE AHLA FOUNDATION testified before the Congressional Task Force on Enhancing Security for Special Events. The testimony highlighted the lodging industry's anti-human trafficking efforts ahead of major global events drawing international visitors to the U.S.

Eliza McCoy, AHLA Foundation’s vice president of programs and impact, emphasized that human trafficking prevention is a shared responsibility as the nation prepares for these events, AHLA Foundation said in a statement.

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