The U.S. hotel industry reported lower performance results month over month, according to January 2024 data from CoStar.
January 2024 (percentage change from January 2023):
- Occupancy: 51.9% (-1.7%)
- Average daily rate (ADR): US$146.33 (+2.7%)
- Revenue per available room (RevPAR): US$75.99 (+0.9%)
Among the Top 25 Markets, Oahu Island experienced the highest occupancy level (79.0%), which was up 6.2% year over year.
Markets with the lowest occupancy for the month included Minneapolis (40.7%) and St. Louis (43.7%).
The Top 25 Markets showed higher occupancy and ADR than all other markets.
CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. For more information about the company and its products and services, please visit www.costargroup.com.