WASHINGTON – 20 December 2023 – As expected, the U.S. hotel industry reported lower performance results from the previous month but improved year-over-year comparisons, according to November 2023 from CoStar. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.
November 2023 (percentage change from November 2022):
- Occupancy: 58.4% (-1.2%)
- Average daily rate (ADR): US$151.23 (+3.6%)
- Revenue per available room (RevPAR): US$88.36 (+2.4%)
Among the Top 25 Markets, New York City experienced the highest occupancy level (84.0%), which was up 6.3% year over year.
Markets with the lowest occupancy for the month included Minneapolis (49.1%) and St. Louis (53.2%).
The Top 25 Markets showed higher occupancy and ADR than all other markets.
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 80,000 properties and 10.5 million rooms around the globe. Members of the media should refer to the contacts listed below for additional data requests.
