U.S. hotel performance improves in third week of May, YOY comparisons up

Houston saw a double-digit occupancy boost, up 10.5 percent to reach 67.9 percent

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USA hotel performance May 2024
Occupancy rose to 67.4 percent for the week ending May 18, up from 66.1 percent the previous week, according to CoStar. ADR increased to $163.11 from $162.14 and RevPAR reached $109.93, up from $107.24 the prior week.

U.S. HOTEL PERFORMANCE improved in the third week of May compared to the previous week, with positive year-over-year comparisons, according to CoStar. Key metrics, including occupancy, RevPAR, and ADR, all saw week-over-week increases.

Occupancy increased to 67.4 percent for the week ending May 18, up from 66.1 percent the previous week, marking a 0.2 percent year-over-year rise. ADR rose to $163.11 from $162.14, reflecting a 2.6 percent jump compared to last year. RevPAR reached $109.93, up from $107.24 the prior week, showing a 2.8 percent increase compared to the same period in 2023.

Among the top 25 markets, Houston experienced the only double-digit occupancy increase, rising 10.5 percent to 67.9 percent. Atlanta reported the highest year-over-year increases in ADR, rising by 10 percent to $137.30, while RevPAR increased by 18 percent to $98.86.

The steepest RevPAR declines were seen in Orlando, down 8.6 percent to $119.59, St. Louis, which decreased by 6.7 percent to $91.46, and Tampa, down by 6.7 percent to $109.91.