Market Report U.S.
U.S. Hotel Performance for Week Ending April 20th
U.S. hotel performance showed mixed results from the previous week, according to CoStar's latest data through 20 April.
U.S. hotel performance showed mixed results from the previous week, according to CoStar's latest data through 20 April.
Hotels in Jacksonville, Florida, experienced a robust March, driven in part by an influx of visitors for the 50th edition of THE PLAYERS Championship at TPC Sawgrass. This surge in demand coincided with the entrance of several new hotels into the market, which affected hotel performance metrics.
After four consecutive months of year-over-year declines, Canada’s hotel industry reported a marginal lift in transient occupancy, according to CoStar’s March 2024 data.
In 2023, the travel market in the United Kingdom experienced significant growth, with gross bookings increasing 19%, driven by robust expansion in online bookings, mobile transactions and key sectors like airlines and car rentals.
Global occupancy reached the highest level of the year (68.4%). Key country occupancy ranged from 76.4% in the U.K. to 59.3% in Indonesia. Spain, Italy and China all saw occupancy above 72%, with only China showing a year-over-year decrease.
A number of large-scale events have boosted hotel performance in Adelaide, with further jumps expected for upcoming events, according to recent data from CoStar.
The Top 25 Markets showed higher occupancy and ADR than all other markets.
Last year, the sector grew by more than a quarter (26%) to contribute a record-breaking AED 220BN to the UAE’s GDP representing 11.7% of the entire economy. This exceeded the previous record set in 2019 by almost 15% and underscores the sector’s pivotal role in the nation’s economic framework.
Helped by the total solar eclipse, U.S. hotel performance increased from the previous week, according to CoStar's latest data through 13 April.
Las Vegas continues to evolve, with billions of dollars being spent on the development of new world-class venues in recent years. This article examines the latest trends and developments that are relevant to the Las Vegas casino and hotel markets.