The U.S. hotel industry reported positive performance results for the week ending June 29, 2024, according to CoStar’s latest data. CoStar, a leading provider of online real estate marketplaces, information, and analytics, revealed that the industry experienced improvements compared to the previous week and positive year-over-year comparisons.
Among the Top 25 Markets, Minneapolis stood out with the highest year-over-year increases in key performance metrics. This strong performance was attributed to events like the U.S. Olympic Gymnastics Trials and the Twin Cities Pride Parade, which brought in significant tourism and boosted hotel occupancy.
While Minneapolis saw impressive gains, other markets experienced declines in revenue per available room (RevPAR). The steepest drops were observed in [insert specific markets with steepest RevPAR declines]. These declines could be attributed to various factors such as seasonal fluctuations, economic conditions, or competition within the market.
