WASHINGTON—U.S. hotel performance declined from the previous week but showed mostly positive comparisons year over year, according to CoStar’s latest data through August 12, 2023.
U.S. Hotel Performance
August 6-12, 2023
Percentage change from comparable week in 2022:
Occupancy: 68.3 percent (flat)
ADR: $156.47 (up 2.0 percent)
RevPAR: $106.89 (up 2.0 percent)
Among the Top 25 Markets, Los Angeles saw the largest year-over-year growth in each of the key performance metrics: occupancy (up 13.5 percent to 82.6 percent), ADR (up 8.4 percent to $222.98), and RevPAR (up 23.0 percent to $184.16), helped by Taylor Swift’s Eras Tour.
New York City posted the second-highest performance increases: occupancy (up 7.3 percent to 83.6 percent), ADR (up 8.3 percent to $258.39), and RevPAR (up 16.3 percent to $216.06).
St. Louis saw the steepest RevPAR decline (down 22.1 percent to $63.80).
Of note, outside of the Top 25 Markets, Maui Island reported significant year-over-year declines in occupancy (down 22.6 percent to 57.1 percent) and RevPAR (down 21.7 percent to $389.92). A further breakdown of the wildfire impact will be included in the next weekly insights.
