U.S. Hotel Results for Week Ending 6 January

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U.S. hotel performance decreased from the previous week, while year-over-year comparisons improved, according to CoStar’s latest data through 6 January. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.

31 December 2023 through 6 January 2024 (percentage change from comparable week in 2023):

  • Occupancy: 46.8% (-0.7%)
  • Average daily rate (ADR): US$152.17 (+7.2%)
  • Revenue per available room (RevPAR): US$71.28 (+6.4%)

Among the Top 25 Markets, New Orleans saw the largest year-over-year increases in each of the three key performance metrics: occupancy (+36.5% to 61.2%), ADR (+43.5% to US$211.90) and RevPAR (+95.9% to US$129.62). The market’s performance was helped by the Sugar Bowl, FAN EXPO New Orleans, and multiple Mardi Gras parades.

Helped by New Year’s Eve, New York City posted the second-highest gains in ADR (+33.6% to US$260.35) and RevPAR (+49.9% to US$189.85).

The steepest RevPAR declines were seen in Las Vegas (-38.3% to US$124.81) and Dallas (-18.6% to US$49.03).

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 80,000 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.

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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