U.S. hotel ADR and RevPAR grew at lowest rate since 2020
The U.S. hotel industry reported record-high average daily rate (ADR) and revenue per available room (RevPAR), but the country’s growth rate was its lowest since the declines of 2020, according to CoStar’s 2024 year-end data.
Canada hotels set annual record for ADR and RevPAR
Canada’s hotel average daily rate (ADR) and revenue per available room (RevPAR) were the highest for any year on record, according to CoStar’s 2024 data.
U.S. hotel results for week ending 18 January
On the positive side of the MLK Day calendar shift, the U.S. hotel industry reported positive year-over-year comparisons, according to CoStar’s latest data through 18 January.
All-Inclusive Hotel
In all-inclusive hotels, guests pay one upfront fee that covers their accommodations, food, drinks, and various activities and entertainment. These hotels are designed to offer guests a worry-free vacation experience with all needs included as a package for one price...
Best Available Rate (BAR)
BAR rate stands for Best Available Rate and refers to the lowest rate offered by a hotel for a particular room type on a given day. This rate is typically available to any guest who books directly with the hotel, either online or over the phone. The BAR may fluctuate...
3-Month Average
The value of any given month is computed by averaging the value of that month and the 2 preceding months.
Social, Military, Educational, Religious, and Fraternal groups (SMERF)
SMERF stands for Social, Military, Educational, Religious, and Fraternal groups. In the hospitality industry, these groups are considered a key market segment for group bookings. Hotels and event venues often offer specialized services and amenities to cater to the u...
Suite room
A suite is a type of hotel room that offers more space and amenities than a standard guest room. Suites typically consist of a bedroom and a separate living area, which may include a sofa, armchairs, and a dining table. The bedroom area may feature a king-size bed an...
Global Distribution System (GDS)
A Global Distribution System (GDS) is a computerized network that provides travel-related information and booking services to travel agents, travel management companies, and other travel professionals. GDSs consolidate information from various travel suppliers and en...
Inventory
A count of all existing buildings that includes both open and temporarily closed buildings.
Meetings, Incentives, Conferences & Exhibitions (MICE)
This tourism segment represents a significant portion of global business travel as well as hotel demand on the days of the week that typically cater to business travelers. Bookings from the MICE segment are usually made well in advance of an event.
Room block
A room block is a group of hotel rooms that have been reserved for a specific purpose, such as a conference, wedding, or other event. Room blocks are typically booked in advance and can be held for a certain period of time, after which any unreserved rooms are releas...