U.S. HOTEL PERFORMANCE DECLINES IN FOURTH WEEK OF OCTOBER

U.S. hotel performance has declined in the fourth week of October compared to the previous week, according to CoStar. However, year-over-year comparisons
revealed positive results.

Occupancy came in at 66 percent for the week ending Oct. 28, slightly lower than the previous week’s 69 percent, but with year-over-year growth of 0.7 percent.
ADR dropped to $160.89, down from the previous week’s $165.32, yet showing a notable 3.9 percent increase from the previous year. Similarly, RevPAR saw a decrease,
reaching $106.16 compared to the previous week’s $114.04, but reflecting a solid 4.6 percent rise from 2022.

Among the top 25 markets, Minneapolis saw the largest year-over-year increase in occupancy, rising by 12.7 percent to reach 64.5 percent.