WASHINGTON—As expected, the U.S. hotel industry reported lower performance results from the previous month but improved year-over-year comparisons, according to November 2023 data from CoStar.
U.S. Hotel Performance
November 2023
Percentage change from November 2022:
Occupancy: 58.4 percent (down 1.2 percent)
ADR: $151.23 (up 3.6 percent)
RevPAR: $88.36 (up 2.4 percent)
Among the Top 25 Markets, New York City experienced the highest occupancy level (84.0 percent), which was up 6.3 percent year over year.
Markets with the lowest occupancy for the month included Minneapolis (49.1 percent) and St. Louis (53.2 percent).
The Top 25 Markets showed higher occupancy and ADR than all other markets.
