U.S. HOTEL PERFORMANCE improved in the first week of December, showing higher week-over-week and year-over-year results, according to CoStar. Chicago recorded the largest year-over-year increases in occupancy and RevPAR among the top 25 markets.
Occupancy increased to 59 percent for the week ending Dec. 7, up from 50 percent the previous week and 0.5 percent higher year-over-year. ADR surged to $159.77, rising from $141.09 the prior week and reflecting a 3.8 percent increase compared to the same week last year. RevPAR jumped to $94.31 from $70.59, marking a 4.3 percent increase year-over-year.
Among the top 25 markets, Chicago saw the highest year-over-year occupancy increase, up 17.8 percent to 67.6 percent, with RevPAR rising 42.9 percent to $110.59. Oahu reported the largest ADR increase, climbing 27.1 percent to $261.33.
San Francisco experienced the steepest RevPAR decline, falling 16.7 percent to $114.86, followed by New Orleans, down 14.7 percent to $83.16.
