U.S. Hotel Industry Reports a Largely Flat July Performance
Skift Take
In July 2024, the U.S. hotel industry saw flat year-over-year performance, with Oahu Island leading in key metrics, while Phoenix and New Orleans had the lowest occupancy rates.
The DJIA was down 178 points, Nasdaq tumbled 300, the S&P 500 fell 50 points and the 10-year treasury yield was up .08 to 3.86%. If you were wondering why there was no sell off on news yesterday with the confirmation the Fed was moving to an easing stance, today probably made a lot of sense. Lodging stocks were modestly lower on the day.
According to July 2024 data from CoStar, the U.S. hotel industry reported mostly flat performance comparisons year over year. July 2024 (percentage change from July 2023): Occupancy: 68.8% (-0.5%) ADR: $161.69 (+05%) and RevPAR: $111.18 (flat). Among the Top 25 Markets, Oahu Island experienced the highest levels in each of the three key performance metrics: Occupancy (+4.5% to 88.3%), ADR (+1.4% to $310.46) and RevPAR (+5.9% to $274.13). Markets with the lowest occupancy for the month included Phoenix (56.9%) and New Orleans (58.9%). The Top 25 Markets showed higher occupancy and A
