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CoStar: U.S. hotel performance dips YOY during election week

Las Vegas saw the largest YOY growth in key metrics among the top 25 markets

CoStar: U.S. hotel performance dips YOY during election week

U.S. HOTEL PERFORMANCE improved in the first week of November, though year-over-year comparisons remained negative as expected due to the U.S. election, according to CoStar. Key metrics, including occupancy, RevPAR and ADR, rose from the previous week.

Occupancy rose to 62.6 percent for the week ending Nov. 9, up from 60.8 percent the prior week but down 3.5 percent year-over-year. ADR increased to $156.11 from $154.99, reflecting a 0.1 percent year-over-year decline. RevPAR grew to $97.73 from $94.22, showing a 3.5 percent decrease compared to the same week in 2023.


Among the top 25 markets, Las Vegas posted the largest year-over-year growth in each key performance metric: occupancy rose 6.8 percent to 85.4 percent, ADR increased 28.2 percent to $256.38 and RevPAR climbed 36.9 percent to $219.07.

San Francisco saw the steepest RevPAR drop, falling 35.2 percent to $111.40, followed by Washington, D.C., which declined 27.9 percent to $95.89.

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AHLA Fdn.Testifies on Anti-Human Trafficking Efforts
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AHLA Foundation testifies on anti-trafficking efforts

Summary:

  • The AHLA Foundation testified on lodging industry anti-trafficking efforts.
  • Testimony focused on efforts ahead of major global events.
  • The hotel industry has conducted more than 2.5 million anti-trafficking trainings to date.

THE AHLA FOUNDATION testified before the Congressional Task Force on Enhancing Security for Special Events. The testimony highlighted the lodging industry's anti-human trafficking efforts ahead of major global events drawing international visitors to the U.S.

Eliza McCoy, AHLA Foundation’s vice president of programs and impact, emphasized that human trafficking prevention is a shared responsibility as the nation prepares for these events, AHLA Foundation said in a statement.

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