WASHINGTON – 17 August 2023 – U.S. hotel performance declined from the previous week but showed mostly positive comparisons year over year, according to CoStar’s latest data through 12 August. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.
6-12 August 2023 (percentage change from comparable week in 2022):
- Occupancy: 68.3% (flat)
- Average daily rate (ADR): US$156.47 (+2.0%)
- Revenue per available room (RevPAR): US$106.89 (+2.0%)
Among the Top 25 Markets, Los Angeles saw the largest year-over-year growth in each of the key performance metrics: occupancy (+13.5% to 82.6%), ADR (+8.4% to US$222.98) and RevPAR (+23.0% to US$184.16), helped by Taylor Swift’s Eras Tour.
New York City posted the second-highest performance increases: occupancy (+7.3% to 83.6%), ADR (+8.3% to US$258.39) and RevPAR (+16.3% to US$216.06).
St. Louis saw the steepest RevPAR decline (-22.1% to US$63.80).
Of note, outside of the Top 25 Markets, Maui Island reported significant year-over-year declines in occupancy (-22.6% to 57.1%) and RevPAR (-21.7% to US$389.92). A further breakdown of the wildfire impact will be included in the next STR Weekly Insights published on Friday, 18 August.
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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.