U.S. Hotel Occupancy Slipped to 69.8% for Week Ended Oct. 24

U.S. hotel occupancy fell to 69.8 percent for the week ended Oct. 24, down from 70.7 percent the previous week but up 4.8 percent year over year, according to CoStar. The weekly pattern was mixed. The annual trend was not.

Average daily rate rose to $179.55 from $177.65, a 7.4 percent gain year over year. Revenue per available room edged down to $125.31 from $125.53 on a weekly basis, yet climbed 12.6 percent against the same week last year. Rate, not volume, carried the annual gains.

Which markets moved the most?

Tampa led the top 25 markets in occupancy growth, rising 14.8 percent to 72.6 percent.

Chicago posted the largest gains in both rate metrics. ADR jumped 26.4 percent to $235.51, and RevPAR surged 39.7 percent to $189.26. CoStar attributed the Chicago results to PACK EXPO International, a trade show that filled rooms at premium prices for the week.

The declines concentrated elsewhere.

• Oahu recorded the steepest drops in occupancy and RevPAR: occupancy fell 10.2 percent to 72.2 percent, and RevPAR declined 10.7 percent to $185.74.
• Anaheim posted the largest ADR decline, down 8 percent to $197.55.

A trade show in one market can lift national averages. A soft week in Hawaii and Anaheim can pull them back. Single-week market swings this large tell operators more about event calendars than about demand shifts.

How does October compare with September?

The CoStar weekly series shows a recovery arc across the fall. The week ended Sept. 5 posted occupancy of 63 percent, down from 64.1 percent the prior week but up 9.4 percent year over year. ADR reached $159.19, up 6.1 percent, and RevPAR landed at $100.31, up 16.1 percent. CoStar noted the Labor Day calendar shift accelerated the year-over-year comparison.

The following week broke the streak. For the week ended Sept. 12, occupancy fell to 62.3 percent, down 4.6 percent year over year, and RevPAR fell 6.2 percent to $100.08. The decline ended a 21-week run of annual growth. CoStar said the losses concentrated Monday through Wednesday, because the comparable week in 2025 did not include Labor Day.

Recovery came fast. The week ended Sept. 19 saw occupancy rebound to 71.1 percent from 62.3 percent, a 4.4 percent annual gain. ADR rose 5.7 percent to $179.30 — a record weekly level for U.S. hotels, per CoStar — and RevPAR climbed 10.4 percent to $127.43. RevPAR increased in 21 of the top 25 markets that week.

The week ended Sept. 26 delivered mixed weekly metrics, with ADR rising slightly while occupancy and RevPAR declined, though all three metrics still gained year over year. CoStar credited the Rosh Hashanah calendar shift for part of the boost.

What should operators read into this?

Two lessons stand out from the series. First, year-over-year comparisons in September and October have been distorted repeatedly by holiday calendar shifts — Labor Day twice, Rosh Hashanah once — so operators should treat those annual percentages with caution. Second, ADR has held near or above $179 for three of the past six reported weeks, which suggests pricing power, not just occupancy recovery, is driving RevPAR growth of 10 percent or more in most weeks.

Chicago's PACK EXPO spike and Tampa's occupancy surge show the ceiling. Oahu and Anaheim show the floor. The national averages split the difference, and CoStar's next releases will show whether October's rate strength holds as the fall convention season continues.