WASHINGTON – 28 September 2023 – U.S. hotel performance increased from the previous week, according to CoStar’s latest data through 23 September.
17-23 September 2023 (percentage change from comparable week in 2022):
- Occupancy: 68.5% (-1.6%)
- Average daily rate (ADR): US$164.97 (+2.9%)
- Revenue per available room (RevPAR): US$112.96 (+1.2%)
Occupancy remained down year over year due to the Rosh Hashanah calendar shift.
Among the Top 25 Markets, Minneapolis saw the largest year-over-year occupancy increase (+7.4% to 71.3%).
Helped by the United Nations General Assembly, New York City posted the highest jumps in ADR (+16.5% to US$488.89) and RevPAR (+17.6% to US$444.47).
San Francisco saw the steepest RevPAR decline (-38.6% to US$175.81), due to the Dreamforce calendar shift.
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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.
