financeLodging Magazine··1 min·For: Owner, GM, Revenue, Investor
U.S. Hotel Industry Reports Positive YOY Growth
The U.S. hotel industry saw broad performance increases for the week ending May 25, 2024, with RevPAR climbing 6.5% year-over-year. Growth was largely fueled by a 4.1% rise in average daily rates and strong demand in major metropolitan markets.
Key Takeaways
- 1Monitor ADR growth as it remains the primary driver of Revenue Per Available Room (RevPAR) increases across major markets.
- 2Note the impact of large-scale events, such as the Indianapolis 500, which drove significant RevPAR gains of 24.3% in specific markets.
- 3Watch performance trends in top markets like Houston and New York City, which continue to see double-digit RevPAR growth.
Source: Lodging Magazine
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