COSTAR: U.S. HOTEL PERFORMANCE IMPROVES IN LAST WEEK OF JUNE

U.S. HOTEL PERFORMANCE improved in the fourth week of June compared to the previous week, showing positive year-over-year results, according to CoStar.
Occupancy, RevPAR and ADR all increased over the prior week.

Occupancy increased to 71.9 percent for the week ending June 29, up from 69.5 percent the previous week, showing a 3.2 percent year-over-year increase. ADR rose to
$162.81 from $159.88, marking a 3.6 percent increase compared to last year. RevPAR climbed to $117.13 from $111.17 the previous week, reflecting a 6.9 percent
decrease compared to the same period in 2023.

Among the top 25 markets, Minneapolis recorded the highest year-over-year increases: occupancy rose by 20.1 percent to 74.8 percent, ADR increased by 15.7 percent
to $150.42 and RevPAR grew by 39 percent to $112.46. The market’s performance was boosted by events such as the U.S. Olympic Gymnastics Trials and the Twin Cities
Pride Parade.