U.S. Hotel Results for Week Ending 6 April

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U.S. hotel performance showed mixed results from the previous week but positive comparisons year over year, according to CoStar’s latest data through 6 April. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.

31 March through 6 April 2024 (percentage change from comparable week in 2023):

  • Occupancy: 64.1% (+4.7%)
  • Average daily rate (ADR): US$156.96 (+2.1%)
  • Revenue per available room (RevPAR): US$100.59 (+6.9%)

Among the Top 25 Markets, Philadelphia reported the largest year-over-year occupancy lift (+17.5% to 66.1%) and the second-highest jumps in ADR (+17.3% to US$165.11) and RevPAR (+37.8% to US$109.10). The market’s performance was driven by WrestleMania 40.

Helped by the NCAA Men’s Final Four, Phoenix posted the largest increases in ADR (+24.8% to US$237.38) and RevPAR (+39.7% to US$184.07).

The steepest RevPAR declines were seen in Orlando (-7.7% to US$163.05) and Tampa (-7.1% to US$162.81).

For more information about the company and its products and services, please visit www.costargroup.com.

Additional Performance Data
CoStar’s world-leading hotel performance sample comprises 81,000 properties and 10.5 million rooms around the globe. Members of the media should refer to the contacts listed below for additional data requests.

About CoStar Group
CoStar Group (NASDAQ: CSGP) 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. CoStar Group’s websites attract over 100 million unique monthly visitors. Headquartered in Washington, DC, CoStar Group maintains offices throughout the U.S., Europe, Canada, and Asia. From time to time, we plan to utilize our corporate website, CoStarGroup.com, as a channel of distribution for material company information. For more information, visit CoStarGroup.com.

For 20+ years, the MEET family of products have provided regional and national resources that have kept corporate, association, medical, education, independent, and religious meeting and event planners informed about relevant vendors, industry news, tech innovations, and resources that impact and influence how and where they plan their group business.

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