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.
For more information about the company and its products and services, please visit www.costargroup.com.
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.
