U.S. HOTEL PERFORMANCE has increased in the second week of October compared to the previous week, according to CoStar. However, year-over-year comparisons remained mixed.
Occupancy stood at 68.5 percent for the week ending on Oct. 14, a slight uptick from the previous week’s 67.8 percent, and a marginal year-over-year decline of 2.3 percent. ADR increased to $164.25, up from the previous week’s $163.19, marking a 3.2 percent surge compared to the previous year. RevPAR also showed improvement, reaching $112.51, surpassing the previous week’s $110.68, and reflecting a 0.8 percent rise from 2022.
Among the top 25 markets, Oahu Island experienced the highest year-over-year growth in occupancy, rising by 17.8 percent to reach 85.2 percent, while RevPAR increased by 29.7 percent to $243.22.
Las Vegas posted the highest surge in ADR, increasing by 14.7 percent to $226.94, and the second-largest increase in RevPAR, which rose by 21.1 percent to $199.88.
New Orleans experienced the most significant decline in RevPAR, dropping by 28.3 percent to $107.38.