by Calculated Risk on 8/18/2024 09:12:00 AM
The U.S. hotel industry reported positive comparisons year over year, according to CoStar’s latest data through 10 August. …
4-10 August 2024 (percentage change from comparable week in 2023):
• Occupancy: 68.7{3da602ca2e5ba97d747a870ebcce8c95d74f6ad8c291505a4dfd45401c18df38} (+0.5{3da602ca2e5ba97d747a870ebcce8c95d74f6ad8c291505a4dfd45401c18df38})
• Average daily rate (ADR): US$159.49 (+1.4{3da602ca2e5ba97d747a870ebcce8c95d74f6ad8c291505a4dfd45401c18df38})
• Revenue per available room (RevPAR): US$109.51 (+1.9{3da602ca2e5ba97d747a870ebcce8c95d74f6ad8c291505a4dfd45401c18df38})
emphasis added
The following graph shows the seasonal pattern for the hotel occupancy rate using the four-week average.
The red line is for 2024, blue is the median, and dashed light blue is for 2023. Dashed purple is for 2018, the record year for hotel occupancy.
Note: Y-axis doesn’t start at zero to better show the seasonal change.
The 4-week average of the occupancy rate has peaked for 2024, and the average will start declining into the late summer and early Fall.
