WASHINGTON – 7 December 2023 – As expected, U.S. hotel performance increased from the previous week, according to CoStar’s latest data through 2 December.
26 November through 2 December 2023 (percentage change from comparable week in 2022):
- Occupancy: 54.2% (-1.6%)
- Average daily rate (ADR): US$144.88 (+0.8%)
- Revenue per available room (RevPAR): US$78.54 (-0.8%)
Among the Top 25 Markets, New York City saw the largest year-over-year increases in occupancy (+6.8% to 83.5%) and RevPAR (+17.2% to US$319.18)
Las Vegas posted the largest ADR lift (+11.2% to US$232.94).
Due to the Miami Art Week/Art Basel calendar shift, Miami saw the steepest declines in each of the three key performance metrics: occupancy (-14.0% to 69.0%), ADR (-42.5% to 191.20) and RevPAR (-50.6% to US$131.93).
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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.
