The average daily U.S. hotel rate in November increased from 2023 levels, as did the occupancy rate and revenue per available room, according to hotel analytics firm STR.
ADR in November increased 0.9 percent year over year to $152.70, while occupancy increased 1.7 percent to 59.4 percent and RevPAR rose 2.5 percent to $90.66, according to STR.
STR again said its top 25 markets “showed higher occupancy and ADR than all other markets,” which it has noted for several months.
New York City registered the highest occupancy rate among STR’s top 25 U.S. cities at 86.6 percent, up 3.1 percent year over year. Minneapolis logged the lowest such occupancy at 50 percent, followed by St. Louis at 52.4 percent.
STR and Tourism Economics last month noted that the underlying drivers of increased business travel appear steady even as they lowered their U.S. hotel performance outlooks for full-year 2024 and 2025.
