U.S. hotels’ weekly performance mixed, YOY up in fourth week of September

NYC posted the highest YOY increases in key metrics, driven by the UNGA

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U.S. hotel performance
Occupancy dipped slightly to 68.4 percent for the week ending Sept. 28, down from 68.9 percent the previous week, according to CoStar. ADR increased to $170.24 from $168.80, while RevPAR edged up to $116.50 from $116.22.

U.S. HOTEL PERFORMANCE remained mixed in the fourth week of September compared to the prior week, according to CoStar. However, the industry reported positive year-over-year comparisons. Key metrics showed a slight decline in occupancy, while RevPAR and ADR experienced week-over-week growth.

Occupancy dipped slightly to 68.4 percent for the week ending Sept. 28, down from 68.9 percent the previous week, but up 2.6 percent year-over-year. ADR rose to $170.24, an increase from $168.80 the prior week, and 7.5 percent higher than the same week last year. RevPAR edged up to $116.50 from $116.22, reflecting a 10.2 percent increase compared to the same period in 2023.

Among the top 25 markets, New York City recorded the highest year-over-year increases in all key performance metrics: occupancy rose by 11.4 percent to 93.2 percent, ADR increased by 52.8 percent to $523.69, and RevPAR grew by 70.1 percent to $488.32. The market’s performance was bolstered by the United Nations General Assembly.

The steepest RevPAR declines were observed in New Orleans, down 17.6 percent to $177.81, and Nashville, which saw a 5.5 percent drop to $136.06.