WASHINGTON – 14 December 2023 –U.S. hotel performance increased from the previous week, according to CoStar’s latest data through 9 December. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.
3-9Â December 2023 (percentage change from comparable week in 2022):
- Occupancy: 58.7% (-1.1%)
- Average daily rate (ADR): US$153.36 (+4.5%)
- Revenue per available room (RevPAR): US$89.98 (+3.3%)
Among the Top 25 Markets, Boston saw the largest year-over-year occupancy increase (+14.1% to 72.7%).
Helped by Miami Art Week and Art Basel, Miami reported the largest lifts in ADR (+48.8% to US$314.55) and RevPAR (+67.0% to US$262.16).
The steepest RevPAR declines were seen in New Orleans (-26.8% to US$97.72) and Philadelphia (-20.3% to US$84.24).
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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.
