STR Weekly Insights: 18-24 August 2024 ...Middle East

U.S. revenue per available room (RevPAR) soared in the week ending 24 August 2024, up 4.5% year over year, which was the highest increase of the past eight weeks. The Top 25 Markets again led the industry, especially on weekdays (Monday-Wednesday) and were supplemented by growth elsewhere, especially Transient weekday demand in non-Top 25 Markets. Room demand has been trending upwards for the past four weeks, still led by the upper-tier chain scales (Luxury & Upper Upscale) but with added contributions from the middle of the market (Upscale and Upper Midscale) and less decrease in the lower tier (Midscale & Economy). Average daily rate (ADR) gains generally met or exceeded the current level

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STR Weekly Insights: 18-24 August 2024 ...Middle East

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