US Hotel Performance Shows Signs of Increase

New data from analytics company CoStar found that while the U.S. hotel industry reported lower financial performance in November compared with October, it still showed signs of improvement over November, 2023. 

Occupancy in the United States was up 1.7 percent year-over-year, to 59.4 percent. The average daily rate (ADR) was also up 0.9 percent from 2023, at $152.70 per night.

Revenue per available room (RevPAR), which is another key hotel metric, was at $90.66, an increase of 2.5 percent from last year. 

New York City saw the highest occupancy level, at 86.6 percent, among the top 25 markets in the United States.

Those with the lowest occupancy included Minneapolis, at 50 percent, and St. Louis, at 52.4 percent.

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