The U.S. hotel industry reported mostly flat performance comparisons year over year, according to July data from CoStar.
July 2024 (percentage change from July 2023):
- Occupancy: 68.8 percent (-0.5 percent)
- Average daily rate: $161.69 (+0.5 percent)
- Revenue per available room: $111.18 (flat)
Among the Top 25 Markets, Oahu Island experienced the highest levels in each of the three key performance metrics: occupancy (+4.5 percent to 88.3 percent), ADR (+1.4 percent to $310.46) and RevPAR (+5.9 percent to $274.13).
Markets with the lowest occupancy for the month included Phoenix (56.9 percent) and New Orleans (58.9 percent). The Top 25 Markets showed higher occupancy and ADR than all other markets.