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Oahu Island was the only significant market to experience declines in all 3 crucial metrics. Image Credit The Resort Group
- According to CoStar’s information for the week ending December 21, 2024, the U.S. hotel market reported a year-over-year boost in tenancy, typical day-to-day rate (ADR), and profits per offered space (RevPAR).
- Tampa showed the greatest boost in tenancy and RevPAR, while New York City reported the greatest ADR. Oahu Island was the only significant market to experience declines in all 3 crucial metrics.
According to information supplied by CoStar, a leading online realty market, the U.S. hotel market saw considerable year-over-year development in the week leading up to December 21, 2024. The boost can be credited to the Hannukah calendar shift and the compressed service travel duration in between Thanksgiving and Christmas, in spite of the seasonal downturn generally experienced.
The market reported an 11.4% boost in tenancy to 48.9%, a 2.7% boost in the typical everyday rate (ADR) to US$ 135.79, and a 14.3% boost in profits per readily available space (RevPAR) to US$ 66.36.
Amongst the leading 25 markets, Tampa saw the best boost in tenancy (37.9%) and RevPAR (63.8%), generally due to require originating from cyclone healing. New york city City reported the greatest development in ADR at 20.1%, reaching US$ 351.39.
Oahu Island was the only significant market to tape-record reductions in all 3 essential metrics: tenancy decreased by 4.0% to 66.4%, ADR reduced by 16.7% to US$ 259.60, and RevPAR fell by 20.0% to US$ 172.27.
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