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Among the Top 25 Markets, Miami experienced the highest levels in each of the three key performance metrics: occupancy (+2.3% to 83.5%), ADR (-0.6% to US$284.14) and RevPAR (+1.6% to US$237.25).
The Top 25 Markets showed higher occupancy and ADR than all other markets.
The U.S. hotel industry reported higher performance results from the previous month, but mixed comparisons year over year, according to March 2024 data from CoStar.
March 2024 (percentage change from March 2023):
- Occupancy: 63.7% (-2.5%)
- Average daily rate (ADR): US$159.79 (+0.4%)
- Revenue per available room (RevPAR): US$101.81 (-2.2%)
Among the Top 25 Markets, Miami experienced the highest levels in each of the three key performance metrics: occupancy (+2.3% to 83.5%), ADR (-0.6% to US$284.14) and RevPAR (+1.6% to US$237.25).
Markets with the lowest occupancy for the month included Minneapolis (54.7%) and Detroit (55.1%).
The Top 25 Markets showed higher occupancy and ADR than all other markets.
CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. For more information about the company and its products and services, please visit www.costargroup.com.
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