The U.S. hotel industry reported lower performance results from the previous month but positive comparisons year over year, according to August 2024 data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
August 2024 (percentage change from August 2023):
- Occupancy: 66.9% (+1.5%)
- Average daily rate (ADR): US$157.84 (+2.3%)
- Revenue per available room (RevPAR): US$105.67 (+3.9%)
Among the Top 25 Markets, New York City experienced the highest occupancy level (+5.2% to 87.3%).
Markets with the lowest occupancy for the month included New Orleans (54.1%) and Phoenix (58.4%).
The Top 25 Markets showed higher occupancy and ADR than all other markets.
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Additional Performance Data
CoStar’s world-leading hotel performance sample comprises 85,000 properties and 11 million rooms around the globe. Members of the media should refer to the contacts listed below for additional data requests.
About CoStar Group, Inc.
CoStar Group is a leading provider of online real estate marketplaces, information, and analytics in the property markets. CoStar is the global leader in commercial real estate information, analytics, and news, enabling clients to analyze, interpret and gain unmatched insight on property values, market conditions and availabilities. STR provides premium data benchmarking, analytics, and marketplace insights for the global hospitality industry. Headquartered in Washington, DC, CoStar Group maintains offices throughout the U.S., Europe, Canada, and Asia. For more information, visit CoStarGroup.com.
