financeLodging Magazine··1 min·For: Owner, GM, Revenue, Investor
U.S. Hotel Industry Reports Positive Year-Over-Year Growth
The U.S. hotel industry reported positive year-over-year results for the week of June 16-22, 2024, with RevPAR increasing by 1.5% driven by ADR and occupancy gains. Performance was notably strong in major metropolitan markets like Seattle and Houston.
Key Takeaways
- 1Monitor performance in Top 25 Markets, which outperformed smaller markets with a combined 2.5% RevPAR increase.
- 2Capitalize on group demand and event-driven travel, as Seattle saw the largest RevPAR jump at 19.3% due to major concerts and sports events.
- 3Note the recovery in ADR (+1.0%) and Occupancy (+0.5%) as the industry maintains a steady growth trajectory compared to 2023.
Source: Lodging Magazine
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