Global hotel RevPAR shows no sign of slowing

The global hotel performance is expected to steadily improve over the next several weeks as business and group travel return

Feb 6, 2024

U.S. hotels saw big year-over-year (YoY) gains with revenue per available room (RevPAR) up 4.8%, driven entirely by a 5.1% increase in average daily rate (ADR). Occupancy sat at 56.2%, essentially matching the same week last year, down just 0.2 percentage points.

Key takeaways

  • As has been seen several times over the past couple months, the Las Vegas market with twice as many rooms as the next largest market and hosting large events had a significant impact on overall industry performance;
  • Group demand has topped last year’s levels for the past three weeks, which is notable given that last January benefitted from a favorable post-Omicron surge in group demand;
  • Outside of the U.S., the strongest occupancy performance within the top 10 countries, based on supply, was China, followed by Spain and Germany.

Get the full story at STR

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