Skip to content
Search

Latest Stories

CoStar: U.S. hotels continue upward trend in third week of February

Boston and New Orleans saw notable year-over-year increases in occupancy

CoStar: U.S. hotels continue upward trend in third week of February

U.S. HOTEL PERFORMANCE increased in the third week of February compared to the previous week, with mixed year-over-year comparisons, according to CoStar. Key metrics like occupancy, ADR, and RevPAR maintained upward trends during this period compared to the preceding week.

Occupancy climbed to 59.2 percent for the week ending Feb. 17, up from the previous week's 56.2 percent, representing a 2.5 percent year-over-year decline. ADR rose to $162.24 from $160.96 the prior week, signifying a 4.2 percent increase compared to the previous year. RevPAR similarly increased to $96.1 from $90.4 the prior week, reflecting a 1.6 percent rise compared to the corresponding period in 2023.


Among the top 25 markets, Boston and New Orleans saw substantial year-over-year increases in occupancy. Boston's occupancy rose by 14.6 percent to 64.7 percent, while New Orleans experienced a similar increase to 75.7 percent, driven by Mardi Gras.

Due to Super Bowl LVIII, Las Vegas reported significant increases. ADR rose by 76.7 percent to $318.88, while RevPAR jumped by 81.4 percent to $257.72. Weekly occupancy increased by 2.7 percent to 80.8 percent. On Sunday night, Las Vegas' occupancy surpassed 80 percent, with ADR exceeding $800.

Phoenix reported the sharpest decline in RevPAR, dropping by 21.6 percent to $173.63, attributed to comparisons with its Super Bowl hosting period last year.

More for you

Peachtree Group , celebrating their 2024 ranking as the 8th largest U.S. CRE lender with $1.6B in investments.
Photo credit: Peachtree Group

Peachtree ranked eighth-largest CRE lender in the U.S.

Peachtree Group Ranks 8th in U.S. CRE Lending for 2024

PEACHTREE GROUP IS the eighth-largest commercial real estate lender in the U.S., according to the Mortgage Bankers Association’s 2024 loan origination rankings. The company deployed $1.6 billion in commercial real estate credit investments.

The MBA also ranked Peachtree seventh among U.S. CRE hotel lenders for the fourth consecutive year and recognized it across the office, multifamily, retail, and industrial sectors, Peachtree said in a statement.

Keep ReadingShow less
stayAPT Suites Lancaster hotel by Destiny Partners in 2025

Destiny, stayAPT to franchise five PA hotels

Why stayAPT Suites and Destiny Partners Are Redefining Extended Stays

DESTINY PARTNERS LLC and stayAPT Suites signed a franchise deal for five Pennsylvania locations: Lancaster, Reading, York, Bethlehem, and Allentown. Construction begins this spring on the first 94-room, four-story property in Lancaster.

Destiny Partners co-founder Shakher Patel leads the firm, while Gary DeLapp is stayAPT Suites' president and CEO.

Keep ReadingShow less
હન્ટર કોન્ફરન્સ 2025: નવું સ્થળ, આર્થિક ચર્ચા

હંટર હોટેલ કોન્ફરન્સે મોટા પગલાની જાહેરાત કરી

હન્ટર હોટેલ ઇન્વેસ્ટમેન્ટ કોન્ફરન્સે આ અઠવાડિયે તેની 2025 મીટિંગની શરૂઆત એવા સમાચાર સાથે કરી હતી કે તે આવતા વર્ષે નવા સ્થાને જશે. ઉપરાંત, કોન્ફરન્સમાં વક્તાઓએ યુ.એસ.ની અર્થવ્યવસ્થાને અસર કરતી વર્તમાન અશાંતિ અંગે તેમના મંતવ્યો આપ્યા હતા.

આ વર્ષની કોન્ફરન્સની થીમ હતી “એલિવેટ યોર ગેમ,”, કોન્ફરન્સ ચેરમેન અને પ્રાયોજક હન્ટર હોટેલ એડવાઈઝર્સના સીઓઓ લી હન્ટરે ડાઉનટાઉન એટલાન્ટામાં મેરિયોટ માર્ક્વિસ હોટેલ ખાતે મંગળવારે તેમની શરૂઆતની ટિપ્પણીઓમાં જણાવ્યું હતું. કોન્ફરન્સમાં 2,200 થી વધુ લોકોએ હાજરી આપી હતી.

Keep ReadingShow less