Berkadia Hotels & Hospitality is pleased to present our quarterly research report, the U.S. Hotels & Hospitality Industry Report. Using market data from the recently completed quarter, we analyze performance throughout the sector and identify emerging trends that may help clients and partners forecast for the future.

Key Takeaways from Q4:

• OCCUPANCY: At 59.8 percent in Q4 2024, the occupancy rate was up 80 basis points from one year prior.
• ADR: Rising 1.9 percent annually, the average daily rate (ADR) reached $158.38 in Q4 2024.
• RevPAR: At $94.78 in Q4 2024, the revenue per available room (RevPAR) was up annually.
• EMPLOYMENT: Lodging employment expanded 1.1% in the 12-month period through November 2024.
• CONSTRUCTION: Since 2021, deliveries have slowed, with 71,011 rooms added in 2024.
• AIR TRAVEL: TSA checkpoint travel numbers set a new record with more than 904 million passengers in 2024.