Due to the Fourth of July, the U.S. hotel industry reported lower performance results from the previous week and mixed comparisons year over year, according to CoStar’s latest data through 6 July. …
30 June through 6 July 2024 (percentage change from comparable week in 2023):
• Occupancy: 61.3% (-0.9%)
• Average daily rate (ADR): US$157.27 (+0.5%)
• Revenue per available room (RevPAR): US$96.35 (-0.4%)
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The following graph shows the seasonal pattern for the hotel occupancy rate using the four-week average.
Click on graph for larger image.
The red line is for 2024, blue is the median, and dashed light blue is for 2023. Dashed purple is for 2018, the record year for hotel occupancy.
The 4-week average of the occupancy rate is tracking just behind last year and is below the median rate for the period 2000 through 2023 (Blue).
Note: Y-axis doesn’t start at zero to better show the seasonal change.
The 4-week average of the occupancy rate will increase seasonally due to summer recreational travel.