WASHINGTON – 2 November 2023 – U.S. hotel performance decreased from the previous week but showed positive year-over-year comparisons, according to CoStar’s latest data through 28 October. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.
22-28 October 2023 (percentage change from comparable week in 2022):
- Occupancy: 66.0% (+0.7%)
- Average daily rate (ADR): US$160.89 (+3.9%)
- Revenue per available room (RevPAR): US$106.16 (+4.6%)
Among the Top 25 Markets, Minneapolis saw the largest year-over-year lift in occupancy (+12.7% to 64.5%).
New York City posted the highest ADR increase (+12.7% to US$365.05).
San Francisco reported the largest jump in RevPAR (+22.7% to US$178.32).
Tampa saw the steepest RevPAR decline (-16.9% to US$98.63).
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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.
