According to August 2024 data from CoStar, the U.S. hotel industry reported lower performance results from the previous month—but positive comparisons year over year.
For the month (percentage change from August 2023):
- Occupancy: 66.9 percent (+1.5 percent)
- Average daily rate: $157.84 (+2.3 percent)
- Revenue per available room: $105.67 (+3.9 percent)
Top Markets
Among CoStar’s top 25 markets, New York City reported the highest occupancy level (+5.2 percent to 87.3 percent).
Markets with the lowest occupancy for the month included New Orleans (54.1 percent) and Phoenix (58.4 percent).
The top 25 markets showed higher occupancy and ADR than all other markets.