U.S. Hotel Sector Shows Varied Results In Week-Long CoStar Analysis

Saturday, August 3, 2024 CoStar reports mixed weekly and varied yearly results for U.S. hotels as of July 27, highlighting occupancy and revenue changes.

Recent data from CoStar, a premier online platform for real estate marketplace insights and analytics, reveals a slight dip in the performance of the U.S. hotel sector compared to the prior week and varied year-over-year results as of July 27.

Here’s a breakdown of the weekly changes from July 21 to 27, 2024, compared to the same period in 2023: In a review of the Top 25 Markets, New Orleans led with the most significant annual increase in occupancy, jumping by 16.9% to 66.7%.

Conversely, Nashville experienced the sharpest drop in RevPAR, down 24.2% to $128.78, largely affected by the timing of a George Strait concert the previous year.

San Diego reported the highest rise in ADR, climbing 12.0% to $294.80.

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