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Las Vegas proved an exception, demonstrating the highest increases in the top 25 markets across all three key performance metrics.
- The U.S. hotel industry sees year-over-year performance decrease for the week ending 9th November 2024.
- Las Vegas is the top performer, with significant increases in all critical performance metrics.
According to the latest data from CoStar, the U.S. hotel industry experienced a downturn in performance for the week ending 9th November 2024. The industry saw a 3.5% decrease in occupancy, dropping to 62.6%. The average daily rate (ADR) slightly decreased by 0.1% to US$156.11. The revenue per available room (RevPAR) also fell by 3.5%, amounting to US$97.73.
However, Las Vegas proved an exception, demonstrating the highest increases in the top 25 markets across all three key performance metrics. Occupancy rates increased by 6.8% to 85.4%, ADR increased by 28.2% to US$256.38, and RevPAR saw a substantial boost of 36.9% to US$219.07.
The most significant declines in RevPAR were in San Francisco, where it dropped 35.2% to US$111.40, and Washington, D.C., where it fell 27.9% to US$95.89.
