Group items tagged

THE U.S. HOTEL industry showed improved performance in May compared to the same month last year, according to CoStar. All three performance metrics-occupancy, ADR, and RevPAR-increased year-over-year. The top 25 markets reported higher occupancy and ADR than all other markets. Occupancy increased to 65.7 percent in May, up from 65.2 percent in April, and increased by 1.5 percent compared to May 2023. ADR climbed to $160.40 from $157.31 the previous month, a 2.4 percent rise from 2023. RevPAR reached $105.46, up from $102.51 the preceding month, reflecting a 4 percent increase from May of the previous year. Among the top 25 markets, New York City led in all three key performance metrics: occupancy rose 5.8 percent to 88.9 percent, ADR increased 6.3 percent to $339.25, and RevPAR climbed 12.5 percent to $301.57. Markets with the lowest occupancy for the month included Detroit at 46.1 percent and Chicago at 49.4 percent.

U.S. HOTEL PERFORMANCE improved in the third week of May compared to the previous week, with positive year-over-year comparisons, according to CoStar. Key metrics, including occupancy, RevPAR, and ADR, all saw week-over-week increases. Occupancy increased to 67.4 percent for the week ending May 18, up from 66.1 percent the previous week, marking a 0.2 percent year-over-year rise. ADR rose to $163.11 from $162.14, reflecting a 2.6 percent jump compared to last year. RevPAR reached $109.93, up from $107.24 the prior week, showing a 2.8 percent increase compared to the same period in 2023. Among the top 25 markets, Houston experienced the only double-digit occupancy increase, rising 10.5 percent to 67.9 percent. Atlanta reported the highest year-over-year increases in ADR, rising by 10 percent to $137.30, while RevPAR increased by 18 percent to $98.86.