WASHINGTON – 22 January 2024 – As expected due to the holiday season, the U.S. hotel industry reported lower performance results month over month, according to December 2023 data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
December 2023 (percentage change from December 2022):
- Occupancy: 52.6% (-1.8%)
- Average daily rate (ADR): US$151.13 (+2.1%)
- Revenue per available room (RevPAR): US$79.42 (+0.3%)
Among the Top 25 Markets, New York City experienced the highest occupancy level (86.6%), which was up 4.3% year over year.
Markets with the lowest occupancy for the month included Minneapolis (42.5%) and St. Louis (45.8%).
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 81,000 properties and 10.5 million rooms around the globe. Members of the media should refer to the contacts listed below for additional data requests.
