WASHINGTON – 20 December 2023 – As expected, the U.S. hotel industry reported lower performance results from the previous month but improved year-over-year comparisons, according to November 2023 from CoStar. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.
November 2023 (percentage change from November 2022):
- Occupancy: 58.4% (-1.2%)
- Average daily rate (ADR): US$151.23 (+3.6%)
- Revenue per available room (RevPAR): US$88.36 (+2.4%)
Among the Top 25 Markets, New York City experienced the highest occupancy level (84.0%), which was up 6.3% year over year.
Markets with the lowest occupancy for the month included Minneapolis (49.1%) and St. Louis (53.2%).
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 80,000 properties and 10.5 million rooms around the globe. Members of the media should refer to the contacts listed below for additional data requests.
