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.