U.S. HOTEL PERFORMANCE displayed mixed outcomes in the fourth week of February compared to the previous week, according to CoStar. While occupancy and RevPAR experienced a modest increase, ADR declined from the prior week.
Occupancy increased to 62 percent for the week ending Feb. 24, up from the previous week’s 59.2 percent, marking a 3.3 percent year-over-year decline. ADR decreased to $156.62 from $162.24 the prior week, reflecting a 0.3 percent increase compared to the previous year. RevPAR rose to $97.12 from $96.10 the prior week, indicating a 2.9 percent decrease compared to the same period in 2023.
Among the top 25 markets, Minneapolis reported the highest year-over-year occupancy increase, rising by 4.5 percent to reach 47.8 percent.
Las Vegas and Oahu Island experienced the highest ADR growth, rising by 7.5 percent to $203.52 and $303.54, respectively.
The steepest RevPAR declines occurred in New Orleans, dropping 22.1 percent to $128.09, and in Nashville, which fell 20.2 percent to $104.30. Meanwhile, the Mardi Gras calendar shift impacted New Orleans’ performance.
