COSTAR: U.S. HOTELS DEMONSTRATE MIXED TRENDS IN ACCORDANCE WITH SEASONAL PATTERNS

U.S. HOTEL PERFORMANCE maintained a mixed trend compared to the previous week, in line with ongoing seasonal patterns, according to CoStar. However, there
were positive year-over-year comparisons, signaling signs of recovery.

Occupancy was 62.7 percent for the week ending Sept. 2, down from the prior week, but it showed a 0.2 percent increase compared to 2022, part of the seasonal
pattern. ADR stood at $150.52, a slight drop from the previous week, though it displayed a 1.8 percent growth compared to the same period last year. RevPAR was
$94.38, lower than the week ago, yet it still indicated a 2 percent rise from 2022.

Among the top 25 markets, Minneapolis recorded significant year-over-year gains in occupancy, surging 19.1 percent to hit 74.4 percent, while RevPAR increased
by 26.7 percent, reaching $101.06.