CoStar: U.S. hotel YOY metrics grew in August’s fourth week

U.S. HOTEL PERFORMANCE reported positive year-over-year comparisons for the fourth week of August, according to CoStar. However, key metrics, including
occupancy, RevPAR, and ADR, declined compared to the previous week.

Occupancy fell to 66.1 percent for the week ending Aug. 24, down from 66.9 percent the previous week, but up 1.7 percent year-over-year. ADR was $154.80, lower
than the prior week’s $156.35, but 2.7 percent higher than the same week last year. RevPAR fell to $102.30 from $104.54 the previous week, yet was still 4.5 percent
higher compared to the same period in 2023.

Driven by the Democratic National Convention, Chicago experienced the largest increases in ADR, which rose 41.8 percent to $215.60, and RevPAR, which jumped
51.1 percent to $156.32. The market’s occupancy increased 6.5 percent to 72.5 percent.