WASHINGTON – 21 August 2023 – The U.S. hotel industry reported mixed performance results month over month, according to July 2023 from CoStar. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.
July 2023 (percentage change from July 2022):
- Occupancy: 69.1% (-0.5%)
- Average daily rate (ADR): US$160.31 (+1.3%)
- Revenue per available room (RevPAR): US$110.80 (+0.8%)
Among the Top 25 Markets, San Diego experienced the highest occupancy level (86.5%), which was up 2.6% year over year.
Markets with the lowest occupancy for the month included New Orleans (54.3%) and Phoenix (58.9%).
Reflecting continued improvement in business travel and groups, the Top 25 Markets showed higher occupancy and ADR than all other markets.
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Additional Performance Data
CoStar’s world-leading hotel performance sample comprises 78,000 properties and 10.3 million rooms around the globe. Members of the media should refer to the contacts listed below for additional data requests.