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STR Weekly Insights on Global Hotel Industry Performance: 26 May & 1 June 2024

June 10, 2024

Highlights

  • Low RevPAR growth
  • Upper Upscale hotels did best
  • Storms impacted performance across Texas
  • Madrid enjoyed a Taylor Swift boost

Modest Memorial Day week performance

U.S. hotel performance over the week of Memorial Day (ending 1 June 2024) showed a modest 1.0% increase in revenue per available room (RevPAR), all from occupancy, as average daily rate (ADR) was essentially unchanged (+0.1%). The Top 25 Markets amplified this pattern with occupancy increasing 1.6ppts YoY, while ADR for those markets decreased 0.5%, netting RevPAR growth of 2.0%.

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