WASHINGTON – 8 January 2024 – U.S. hotel performance increased from the previous week, while year-over-year comparisons were skewed downward due to a calendar shift, according to CoStar’s latest data through 30 December. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.
24-30Â December 2023 (percentage change from comparable week in 2022):
- Occupancy: 50.1% (-7.1%)
- Average daily rate (ADR): US$163.58 (-2.8%)
- Revenue per available room (RevPAR): US$82.01 (-9.7%)
Year-over-year comparisons were negative as the comparable week from 2022 (25 December-31 December) ended with New Year’s Eve.
Among the Top 25 Markets, Miami saw the largest year-over-year increase in occupancy (+3.9% to 79.6%). The market’s performance was helped by the Capital One Orange Bowl and New Year’s Eve weekend.
Anaheim posted the highest gains in ADR (+11.9% to US$219.71) and RevPAR (+12.5% to US$160.25).
The steepest RevPAR declines were seen in Las Vegas (-28.3% to US$112.79) and Nashville (-27.0% to US$80.19).
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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.
