The U.S. hotel industry reported positive comparisons year over year, according to CoStar’s latest data through Aug. 24.
August 18-24 (percentage change from comparable week in 2023):
- Occupancy: 66.1 percent (+1.7 percent)
- Average daily rate: $154.80 (+2.7 percent)
- Revenue per available room: $102.30 (+4.5 percent)
Among the Top 25 Markets, Houston saw the highest year-over-year occupancy lift (+31.7 percent to 76.1 percent).
Driven by the Democratic National Convention, Chicago posted the largest increases in ADR (+41.8 percent to $215.60) and RevPAR (+51.1 percent to $156.32). The market’s occupancy rose 6.5 percent to 72.5 percent.
The steepest RevPAR declines were seen in Las Vegas (-14.2 percent to $112.09) and Nashville (-11.3 percent to $96.11).