WASHINGTON – 9 November 2023 – U.S. hotel performance showed an expected decline from the previous week as well as mixed year-over-year comparisons, according to CoStar’s latest data through 4 November. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.
29 October through 4 November 2023 (percentage change from comparable week in 2022):
- Occupancy: 59.7% (-4.0%)
- Average daily rate (ADR): US$152.90 (+2.0%)
- Revenue per available room (RevPAR): US$91.23 (-2.1%)
The decrease in occupancy was anticipated with Halloween falling on Tuesday.
Among the Top 25 Markets, St. Louis saw the largest year-over-year increases in each of the three key performance metrics: occupancy (+6.4% to 59.2%), ADR (+12.3% to US$131.16), and RevPAR (+19.5% to US$77.64). The market’s performance was helped by Metallica’s M72 World Tour.
The steepest RevPAR declines were seen in Miami (-22.5% to US$131.88) and Tampa (-19.6% to US$87.29).
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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.