U.S. hotel performance for March 2024

WASHINGTON – 19 April 2024 – The U.S. hotel industry reported higher performance results from the previous month, but mixed comparisons year over year, according to March 2024 data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.

March 2024 (percentage change from March 2023):

• Occupancy: 63.7% (-2.5%)
• Average daily rate (ADR): US$159.79 (+0.4%)
• Revenue per available room (RevPAR): US$101.81 (-2.2%)

Among the Top 25 Markets, Miami experienced the highest levels in each of the three key performance metrics: occupancy (+2.3% to 83.5%), ADR (-0.6% to US$284.14) and RevPAR (+1.6% to US$237.25).

Markets with the lowest occupancy for the month included Minneapolis (54.7%) and Detroit (55.1%).

The Top 25 Markets showed higher occupancy and ADR than all other markets.

For more information about the company and its products and services, please visit www.costargroup.com.