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U.S. hotel performance declines in fourth week of October

Minneapolis saw a 12.7 percent YoY increase in occupancy, reaching 64.5 percent

U.S. hotel performance declines in fourth week of October

U.S. hotel performance has declined in the fourth week of October compared to the previous week, according to CoStar. However, year-over-year comparisons revealed positive results.

Occupancy came in at 66 percent for the week ending Oct. 28, slightly lower than the previous week's 69 percent, but with year-over-year growth of 0.7 percent. ADR dropped to $160.89, down from the previous week's $165.32, yet showing a notable 3.9 percent increase from the previous year. Similarly, RevPAR saw a decrease, reaching $106.16 compared to the previous week's $114.04, but reflecting a solid 4.6 percent rise from 2022.


Among the top 25 markets, Minneapolis saw the largest year-over-year increase in occupancy, rising by 12.7 percent to reach 64.5 percent.

New York City posted the highest ADR increase, up 12.7 percent to $365.05. San Francisco reported the largest jump in RevPAR, surging 22.7 percent to $178.32. Tampa saw the steepest RevPAR decline, down 16.9 percent to $98.63.

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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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