NYC Leads U.S. Hotel Occupancy at 87%
Skift Take
The U.S. hotel industry saw slight year-over-year performance improvements in November 2024, with New York leading occupancy gains among major markets.
Holiday Schedule: The final Daily Lodging Report for 2024 will be on Tuesday, December 24th. The first DLR of 2025 will be January 2, 2025. We wish you all a happy and healthy holiday season.
The DJIA bounced 498 points on Friday while Nasdaq was up 200, the S&P 500 rose 64 points and the 10-year treasury yield was down .05 to 4.52%. Lodging stocks were mixed. SVC was up 6% but VCSA was down -6%. As for SHCO, after an attempt at a rally in the morning, the stock sold off again and closed at $$7.07, nearly 22% lower than the supposed takeover price.
The U.S. hotel industry reported lower performance results from the previous month, according to November 2024 data from CoStar. November 2024 (percentage change from November 2023): Occupancy: 59.4% (+1.7%) ADR: $152.70 (+0.9%) and RevPAR: $90.66 (+2.5%). Among the Top 25 Markets, New York City experienced the highest occupancy level (+3.1% to 86.6%). Markets with the lowest occupanc
