WASHINGTON – July 20, 2023 – U.S. hotel performance increased from the previous week and showed improved comparisons year over year, according to CoStar’s latest data through 15 July. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.
9-15Â July 2023 (percentage change from comparable week in 2022):
- Occupancy: 72.0% (+0.1%)
- Average daily rate (ADR): US$159.98 (+1.5%)
- Revenue per available room (RevPAR): US$115.18 (+1.6%)
Among the Top 25 Markets, San Francisco/San Mateo saw the highest year-over-year occupancy increase (+7.7% to 79.4%).
Helped by Taylor Swift’s Eras Tour, Denver posted the largest ADR (+20.1% to US$199.95) and RevPAR (+25.9% to US$177.40) gains.
The steepest RevPAR declines were seen in Chicago (-8.9% to US$126.62) and Miami (-8.3% to US$123.26).
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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.
