The average U.S. hotel daily rate in June increased year over year while occupancy held steady from 2023 levels, according to hotel analytics firm STR.
U.S. ADR in June increased 1.5 percent year over year to $161.30, according to STR, while occupancy held at 69.6 percent and revenue per available room increased 1.5 percent to $112.33.
STR said its top 25 markets “showed higher occupancy and ADR than all other markets.”
STR last month notably softened its 2024 U.S. hotel forecast, even as it cited evidence that business travel demand remains solid, and earlier this month suggested short-term rentals for leisure stays were harming hotel demand.
For the third straight month, New York City in June posted the highest figures among STR’s top 25 markets in all three performance metrics: occupancy (up 2.5 percent year over year to 87.8 percent), ADR (up 4.4 percent to $317.91) and RevPAR (up 7 percent to $279.08).
New Orleans posted the lowest June occupancy among STR’s top 25 markets at 56.9%, followed by Phoenix at 63.4 percent.
