For the week ending December 14th, the U.S. hotel industry demonstrated positive year-over-year growth, driven by an increase in occupancy, average daily rate (ADR), and revenue per available room (RevPAR). Occupancy surged by 8.5% to 59.5%, ADR grew by 8.9%, and RevPAR saw significant growth, jumping 18.2% to $92.32. Several key factors influenced this strong performance, including the Hanukkah calendar shift and a compressed business travel period between Thanksgiving and Christmas.
Among the top 25 markets, Tampa, New York City, and Washington, D.C. stood out due to their impressive performances. Tampa achieved the largest occupancy increase of 33.3%, reaching 84.7%. New York City led in ADR with a substantial rise of 30.1%, reaching $510.13. Washington, D.C., witnessed the highest jump in RevPAR, which soared by 67.6% to $151.18. These standout markets greatly contributed to the overall positive results for the hotel industry this December.
On the other hand, San Francisco was the only top market that reported a decline in RevPAR, dropping by 16.4% to $131.08. This decline was primarily due to the American Geophysical Union’s annual meeting shifting from San Francisco in 2023 to Washington, D.C., in 2024. Despite the overall positive trend, this particular market faced challenges, highlighting the importance of major events in driving hotel industry performance.
