U.S. hotel performance decreased from the previous week, while year-over-year comparisons improved, according to CoStar’s latest data through 6 January.
31 December 2023 through 6 January 2024 (percentage change from comparable week in 2023):
- Occupancy: 46.8% (-0.7%)
- Average daily rate (ADR): US$152.17 (+7.2%)
- Revenue per available room (RevPAR): US$71.28 (+6.4%)
Among the Top 25 Markets, New Orleans saw the largest year-over-year increases in each of the three key performance metrics: occupancy (+36.5% to 61.2%), ADR (+43.5% to US$211.90) and RevPAR (+95.9% to US$129.62). The market’s performance was helped by the Sugar Bowl, FAN EXPO New Orleans, and multiple Mardi Gras parades.
