STR Weekly Insights: 20-26 October 2024 ...Middle East

hospitality net - News
STR Weekly Insights: 20-26 October 2024
source : hospitality net ( Middle East ) () 28
U.S. revenue per available room (RevPAR) grew 9.3% year over year on nearly equal gains in occupancy and average daily rate (ADR). Occupancy reached 69%, up 3 percentage points (ppts), and ADR increased 4.6%. The occupancy gain was the largest since earlier this year with 82% of the 171 STR-defined U.S. markets reporting occupancy growth, the most of the past 91 weeks. It was a clean week with no calendar/holiday shifts to distort the data. Ongoing hurricane recovery efforts, Taylor Swift, college football, and the squeezing in of conference/meetings ahead of Halloween and the election drove demand gains.

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