The U.S. hotel industry reported higher performance results from the previous week and positive comparisons year-over-year (YOY), according to CoStar’s latest data through June 29.
June 23-29 (percentage change from comparable week in 2023):
Occupancy: 71.9% (+3.2%)
ADR: $162.81 (+3.6%)
RevPAR: $117.13 (+6.9%)
Among the top 25 markets, Minneapolis saw the highest YOY increases in each of the three key performance metrics: occupancy (+20.1% to 74.8%), ADR (+15.7% to $150.42) and RevPAR (+39.0% to $112.46). The market’s performance was helped by the U.S. Olympic Gymnastics Trials and the Twin Cities Pride Parade.
The steepest RevPAR declines were seen in New Orleans (-30.6% to $82.54), Denver (-8.2% to $159.00) and Philadelphia (-8.2% to $110.22)
