WASHINGTON – 3 August 2023 – U.S. hotel performance declined slightly from the previous week but showed improved comparisons year over year, according to CoStar’s latest data through 29 July. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.
23-29Â July 2023 (percentage change from comparable week in 2022):
- Occupancy: 72.2% (+0.6%)
- Average daily rate (ADR): US$161.83 (+2.3%)
- Revenue per available room (RevPAR): US$116.91 (+2.9%)
Among the Top 25 Markets, St. Louis saw the largest year-over-year increases in occupancy (+17.4% to 73.6%) and RevPAR (+43.6% to US$105.50).
Nashville reported the largest gain in ADR (+22.4% to US$210.31).
The steepest RevPAR declines were seen in Miami (-14.6% to US$121.58) and San Francisco (-10.5% to US$149.88).
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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.
