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STR Commentary on U.S. Hotel Performance for February 2024

March 27, 2024

Top-Line Metrics (February 2024, percentage change from February 2023):

  • Occupancy: 58.9% (-1.8%)
  • Average daily rate (ADR): US$158.23 (+3.9%)
  • Revenue per available room (RevPAR): US$93.19 (+2.0%)

Key points

  • February produced modest RevPAR growth, reflecting the continued return to low single-digit gains.
  • Without Las Vegas and the Super Bowl, U.S. RevPAR would have been fallen.
  • The Top 25 Markets continued to outperform all others with Las Vegas once again lifting the aggregate.
  • Group demand and ADR maintained an edge over the Transient counterparts.
  • Upper Upscale and Upscale chains led industry performance, boosted by group demand and continued weekday recovery.
  • Planning activity in the pipeline is growing consistently, which will result in more robust supply growth in 2025 and beyond.

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