Monday, June 24, 2024 In May 2024, the U.S. hotel industry showcased enhanced performance outcomes compared to the previous month, as reported by CoStar.
Recognized as a leading authority, CoStar provides comprehensive online marketplaces, along with essential information and analytics, in the realm of property markets. For May 2024, the U.S.
hotel industry showed the following changes compared to May 2023: In the analysis of the Top 25 Markets, New York City led with the highest increases across all three key performance indicators: occupancy surged by 5.8% to 88.9%, ADR by 6.
3% to US$339.25, and RevPAR by 12.5% to US$301.
57. Conversely, the markets with the lowest occupancy rates in May were Detroit at 61.0% and Minneapolis at 61.
5%. Overall, the Top 25 Markets recorded higher occupancy and ADR compared to other markets..
