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CBRE cuts RevPAR growth forecast to 1.2 percent for 2024 - 0 views

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    CBRE HOTELS RECENTLY reduced U.S. hotel forecast as lodging demand dips amid soft leisure travel and slower corporate profit growth. The upcoming election in November and other economic factors led to the revisions. The research group now projects a 1.2 percent RevPAR increase for 2024, down from 2 percent in May. However, it expects a 2 percent RevPAR growth in the second half of 2024, up from 0.5 percent in the first half, driven by international tourism and election events. Lodging industry performance is closely linked to economic strength, with GDP growth generally correlating with RevPAR growth, CBRE said in a statement. The company forecasts 2.3 percent GDP growth and 3.2 percent average inflation for 2024. "We expect low single-digit RevPAR growth over the near-term as election-related events, growth in inbound international travel and an anticipated lower interest rate environment should support hotel demand," said Rachael Rothman, CBRE's head of hotel research and data analytics. "Challenges including weakening consumer spending and increased competition from short-term rentals, cruise lines and other lodging alternatives pose downside risks."
asianhospitality

U.S. Hotel Performance Declines Slightly in Late October 2024 | CoStar Analysis on Occu... - 0 views

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    U.S. HOTEL PERFORMANCE declined slightly in the fourth week of October, though year-over-year comparisons remained positive, according to CoStar. Key metrics, including occupancy, RevPAR, and ADR, saw slight decreases from the previous week. Occupancy fell to 69 percent for the week ending Oct. 26, down from 70.1 percent the prior week but up 4.5 percent year-over-year. ADR declined to $168.69 from $169.85, marking a 4.6 percent increase year-over-year. RevPAR dipped to $116.32 from $119.01, showing a 9.3 percent gain over the same period in 2023. Among the top 25 markets, Tampa recorded the highest occupancy increase, up 28.1 percent to 84.2 percent, driven by ongoing displacement demand from Hurricane Milton. New Orleans saw the highest increases in ADR, up 64.1 percent to $301.30, and in RevPAR, up 77.6 percent to $227.24, boosted by Taylor Swift's Eras Tour.
asianhospitality

U.S. Hotel Performance Slips Further in August 2024 | CoStar Report Analysis - 0 views

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    U.S. HOTEL PERFORMANCE continued its downward trajectory in the second week of August compared to the first week, despite positive year-over-year comparisons, according to CoStar. Key metrics such as occupancy, RevPAR and ADR all decreased from the previous week. Occupancy fell to 68.7 percent for the week ending Aug. 10, down from 69.4 percent the previous week but marking a 0.5 percent increase year-over-year. The ADR was $159.49, slightly lower than the prior week's $159.63, yet 1.4 percent higher than last year. RevPAR decreased to $109.51 from $110.84 the previous week but was 1.9 percent higher compared to the same period in 2023. Among the top 25 markets, Houston saw the largest year-over-year increase in occupancy, rising by 31.1 percent to 76.3 percent. The city's RevPAR also increased 47.2 percent to $93.89.
asianhospitality

CoStar: U.S. hotel performance improves in second week of March - 0 views

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    U.S. HOTEL PERFORMANCE rose in the second week of March compared to the previous week but declined year over year, according to CoStar. Key metrics, including occupancy, ADR, and RevPAR, all saw increases compared to the prior week. Occupancy climbed to 63.2 percent for the week ending March 9, up from the prior week's 62.5 percent, reflecting a 2.2 percent year-over-year decline. ADR rose to $156.96 from $155.29 the previous week, marking a 0.6 percent decrease compared to last year. RevPAR reached $99.17, up from the previous week's $97.12, signifying a 2.8 percent decrease compared to the same period in 2023. Among the top 25 markets, Minneapolis saw significant year-over-year growth across all three key performance metrics: occupancy surged by 25.1 percent to 63.7 percent, ADR rose by 15.9 percent to $143.12, and RevPAR increased by 45.1 percent to $91.11.
asianhospitality

U.S. hotel performance dips in first week of February - 0 views

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    U.S. HOTEL PERFORMANCE decreased slightly in the first week of February from the previous week, while year-over-year comparisons remained mixed, according to CoStar. Key metrics, including occupancy, ADR, and RevPAR, all declined in the first week of February compared to the previous week. Occupancy dipped slightly to 55.2 percent for the week ending Feb. 3, from the previous week's 56.2 percent, reflecting a 0.1 percent decrease year-over-year. ADR decreased to $147.99 from the prior week's $149.76, marking a 1.9 percent increase compared to the previous year. RevPAR declined to $81.69 from the prior week's $84.13, reflecting a 1.7 percent increase compared to the corresponding period in 2023. Among the top 25 markets, Seattle saw the largest year-over-year increases, with occupancy rising 19.3 percent to 60.1 percent and RevPAR increasing by 27.5 percent to $89.11.
asianhospitality

CoStar: U.S. hotels' weekly performance mixed, YOY up in fourth week of May - 0 views

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    U.S. HOTEL WEEKLY performance showed mixed results in the fourth week of May compared to the previous week but posted positive year-over-year comparisons, according to CoStar. Despite a slight uptick in occupancy, both ADR and RevPAR decreased week-on-week across all key metrics. Occupancy rose to 67.7 percent for the week ending May 25, up from 67.4 percent the prior week, reflecting a 1.6 percent year-over-year increase. ADR decreased to $160.67 from $163.11, yet still representing a 2.3 percent surge compared to last year. RevPAR stood at $108.73, a decline from the previous week's $109.93, but marking a 3.9 percent increase compared to the same period in 2023. Among the top 25 markets, Houston experienced the most significant year-over-year boosts in occupancy, soaring 20.9 percent to reach 74.1 percent, while RevPAR surged by 29.2 percent to $89.15. Las Vegas recorded the sole double-digit increase in ADR, climbing by 10.9 percent to $217.53.
asianhospitality

CoStar: U.S. hotel performance improves in last week of June 2024 - 0 views

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    U.S. HOTEL PERFORMANCE improved in the fourth week of June compared to the previous week, showing positive year-over-year results, according to CoStar. Occupancy, RevPAR and ADR all increased over the prior week. Occupancy increased to 71.9 percent for the week ending June 29, up from 69.5 percent the previous week, showing a 3.2 percent year-over-year increase. ADR rose to $162.81 from $159.88, marking a 3.6 percent increase compared to last year. RevPAR climbed to $117.13 from $111.17 the previous week, reflecting a 6.9 percent decrease compared to the same period in 2023. Among the top 25 markets, Minneapolis recorded the highest year-over-year increases: occupancy rose by 20.1 percent to 74.8 percent, ADR increased by 15.7 percent to $150.42 and RevPAR grew by 39 percent to $112.46. The market's performance was boosted by events such as the U.S. Olympic Gymnastics Trials and the Twin Cities Pride Parade.
asianhospitality

Hotel Performance Dips as Hanukkah Shifts Timing - CoStar Report - 0 views

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    U.S. HOTEL PERFORMANCE declined in the third week of December compared to the previous week, according to CoStar. However, year-over-year comparisons were positive due to the Hanukkah calendar shift and a shortened business travel period between Thanksgiving and Christmas. Occupancy, RevPAR and ADR all saw week-over-week decreases. Occupancy fell to 48.9 percent for the week ending Dec. 21, down from 59.5 percent the previous week but up 11.4 percent year-over-year. ADR declined to $135.79 from $155.21, reflecting a 2.7 percent year-over-year increase. RevPAR dropped to $66.36 from $92.32 week-over-week but showed a 14.3 percent gain compared to the same period in 2023. Tampa, driven partly by hurricane recovery demand, led year-over-year growth among the top 25 markets, with occupancy up 37.9 percent to 71.5 percent and RevPAR up 63.8 percent to $110.51. New York City recorded the highest ADR increase, up 20.1 percent to $351.39.
asianhospitality

Luxury Travel Trends: CoStar MLK Calendar Shift Insights 2025 - 0 views

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    THE MARTIN LUTHER King Jr. Day calendar shift impacted U.S. hotel performance upward in the third week of January, boosting weekly and year-over-year metrics like occupancy, ADR and RevPAR, according to CoStar. San Francisco led the top 25 markets with the largest gains in all three key metrics. Occupancy increased to 55.8 percent for the week ending Jan. 18, up from 49.2 percent the previous week, reflecting a 6.7 percent year-over-year increase. ADR came in at $155.81 from $144.03, marking a 10 percent rise compared to the same period last year. RevPAR grew to $86.93 from $70.92, a 17.4 percent year-over-year increase. San Francisco led the top 25 markets in year-over-year growth, driven by the J.P. Morgan Healthcare Conference. Occupancy rose 35.9 percent to 71.2 percent, ADR surged 230 percent to $625.98, and RevPAR jumped 348.3 percent to $445.85.
asianhospitality

Report: Extended-stay hotels lead January growth - Asian Hospitality - 0 views

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    U.S. EXTENDED-STAY HOTELS started 2025 with strong January growth, particularly at lower price points, according to The Highland Group. Supply and demand grew much faster than the overall industry, but other performance metrics lagged. The U.S. Extended-Stay Hotels Bulletin: January 2025 reported stronger ADR and the most RevPAR gains for extended-stay hotels compared to corresponding classes. "January was another very good month for extended-stay hotels with positive change in RevPAR in nine of the last ten months and the economy segment continuing to lead RevPAR growth," said Mark Skinner, The Highland Group's partner.
asianhospitality

U.S. Hotel Performance Dips in Late July 2024 : Key Metrics & Market Highlights - CoSta... - 0 views

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    THE U.S. HOTEL industry saw lower performance in the fourth week of July compared to the previous week, with mixed year-over-year results, according to CoStar. Key metrics such as occupancy, RevPAR, and ADR all declined from the prior week. Occupancy fell to 72 percent for the week ending July 27, down from 73.5 percent the previous week and showing a 0.4 percent year-over-year decrease. ADR stood at $164.45, compared to $165.91 the prior week, reflecting a 1.3 percent increase from last year. RevPAR was $118.37, down from $122.02 the previous week but up 0.9 percent compared to the same period in 2023. Among the top 25 markets, New Orleans saw the highest year-over-year occupancy increase, rising 16.9 percent to 66.7 percent. San Diego posted the largest ADR lift, up 12 percent to $294.80.
asianhospitality

U.S. Hotel Performance November Comparison - 0 views

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    U.S. HOTEL PERFORMANCE exhibited mixed year-over-year comparisons in the third week of November, according to CoStar. Moreover, both occupancy and RevPAR declined compared to the previous week. Occupancy dropped to 62.4 percent for the week ending Nov. 18, down from the previous week's 64.8 percent, marking a year-over-year decrease of 0.6 percent. ADR saw a slight increase to $156.47, compared to the previous week's $156.01, demonstrating a significant 7 percent uptick from the previous year. Despite a decline to $97.61 in RevPAR compared to the previous week's $101.13, there was a noteworthy 6.3 percent rise from the corresponding period in 2022. Among the top 25 markets, Boston led with the largest year-over-year occupancy gain, surging by 11.0 percent to reach 77.2 percent.
asianhospitality

CoStar: U.S. hotel performance varied in fourth week of February - 0 views

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    U.S. HOTEL PERFORMANCE displayed mixed outcomes in the fourth week of February compared to the previous week, according to CoStar. While occupancy and RevPAR experienced a modest increase, ADR declined from the prior week. Occupancy increased to 62 percent for the week ending Feb. 24, up from the previous week's 59.2 percent, marking a 3.3 percent year-over-year decline. ADR decreased to $156.62 from $162.24 the prior week, reflecting a 0.3 percent increase compared to the previous year. RevPAR rose to $97.12 from $96.10 the prior week, indicating a 2.9 percent decrease compared to the same period in 2023. Among the top 25 markets, Minneapolis reported the highest year-over-year occupancy increase, rising by 4.5 percent to reach 47.8 percent.
asianhospitality

U.S. Hotel Performance Up for Week Ending March 1, 2025 - Asian Hospitality - 0 views

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    U.S. HOTEL PERFORMANCE improved for the week ending March 1 compared to the previous week, according to CoStar. Occupancy and RevPAR increased week over week, while ADR saw a slight decline, but all three metrics showed year-over-year growth. Occupancy increased to 62.8 percent for the week ending March 1, up from 60.3 percent the previous week and 0.4 percentage points higher year over year. ADR declined slightly to $159.26 from $159.90 the prior week but remained 2.7 percent higher than the same week last year. RevPAR increased to $100.06 from $96.49, reflecting a 3.1 percent gain compared to the same period in 2023. Among the top 25 markets, St. Louis recorded the highest year-over-year occupancy gain, rising 12.1 percentage points to 59.4 percent.
asianhospitality

AHLA: State of the hotel industry strong entering 2024 - 0 views

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    THE STATE OF the U.S. hotel industry is strong going into 2024, according to American Hotel & Lodging Association's 2024 State of the Hotel Industry report. Average hotel occupancy is expected to reach nearly 63.6 percent in 2024, a slight increase from the 62.9 percent in 2023 but below the 65.8 percent rate recorded in 2019. Nominal RevPAR is also anticipated to rise to $101.82 in 2024, up by 4 percent from 2023 and over 17 percent from 2019. AHLA projects hotels will pay employees a record sum of over $123 billion in wages, salaries, and compensation in 2024, surpassing $118 billion in 2023 and $102 billion in 2019. Hotels are expected to add approximately 45,000 employees this year, while the industry's workforce remains nearly 225,000 below the almost 2.37 million employed in 2019, the AHLA report said. The report, projecting persistent challenges for hoteliers in the face of nationwide labor shortages as they approach 2019 occupancy levels, draws on data and analysis from Oxford Economics. It was developed in collaboration with AHLA Premier Partners: STR, Avendra, Ecolab, Encore, JLL, Oracle, and Towne Park.
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