U.S. October hotel rates, occupancy rise

U.S. hotels saw year-over-year increases in average daily rates, occupancy, and revenue per available room in October, according to STR

Nov 26, 2024

ADR in October rose 1.8 percent year over year to $164.86, while occupancy rose 2.3 percent to 67.3 percent and RevPAR rose 4.1 percent to $110.94, according to STR.

STR again said its top 25 markets « posted higher occupancy and ADR than all other markets, » which it has noted for several months.

New York posted the highest October occupancy among STR’s top 25 markets at 91 percent, up 4.6 percent year-over-year. St. Louis had the lowest October occupancy at 61.7 percent, followed by Minneapolis at 63.1 percent.

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