COSTAR: U.S. HOTEL PERFORMANCE IMPROVES IN FOURTH WEEK OF JANUARY

U.S. HOTEL PERFORMANCE improved in the fourth week of January compared to the previous week, according to CoStar. However, year-over-year comparisons
remained mixed, with key metrics like occupancy, ADR, and RevPAR experiencing an increase compared to the preceding period.

Occupancy came in at 56.2 percent for the week ending Jan. 27, up from the previous week’s 52.2 percent but down 0.3 percent year-over-year. ADR increased
to $149.76 from the prior week’s $142.27, a 5.1 percent rise from the previous year. RevPAR rose to $84.13 from the prior week’s $74.31, reflecting a 4.8percent
increase compared to the corresponding period in 2023.

Among the top 25 markets, Las Vegas exhibited the highest year-over-year growth across all key performance metrics: a 28.9 percent increase in occupancy to
83.4 percent, a 46.3 percent rise in ADR to $228.37, and an 88.5 percent growth in RevPAR to $190.42. This performance surge was attributed to the SHOT Show
and World of Concrete events.