WASHINGTON – 7 September 2023 – Following seasonal patterns, U.S. hotel performance showed mixed results from the previous week but positive comparisons year over year, according to CoStar’s latest data through 2 September. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.
27 August through 2 September 2023 (percentage change from comparable week in 2022):
- Occupancy: 62.7% (+0.2%)
- Average daily rate (ADR): US$150.52 (+1.8%)
- Revenue per available room (RevPAR): US$94.38 (+2.0%)
Among the Top 25 Markets, Minneapolis saw the largest year-over-year increases in occupancy (+19.1% to 74.4%) and RevPAR (+26.7% to US$101.06).
Las Vegas posted the highest lift in ADR (+9.0% to US$181.61) and the second-largest jumps in occupancy (+15.9% to 74.4%) and RevPAR (+26.3% to US$135.07).
New Orleans saw the steepest RevPAR decline (-17.2% to US$61.20).
For more information about the company and its products and services, please visit www.costargroup.com.
