Finance & DevelopmentCoStar: U.S. Hotel Occupancy Reaches Highest Level Since 2019

CoStar: U.S. Hotel Occupancy Reaches Highest Level Since 2019

WASHINGTON—U.S. hotel performance increased from the previous week and showed improved comparisons year over year, according to CoStar’s latest data through July 22, 2023.

U.S. Hotel Performance

July 16-22, 2023

Percentage change from comparable week in 2022:
Occupancy: 72.9 percent (up 0.5 percent)
ADR: $161.65 (up 1.5 percent)
RevPAR: $117.91 (up 2.0 percemt)

The U.S. occupancy level was the highest since the week ending August 10, 2019.

Among the Top 25 Markets, New York City saw the largest year-over-year increases in occupancy (up 11.8 percent to 90.9 percent) and RevPAR (up 21.2 percent to $253.61).

Helped by Taylor Swift’s Eras Tour, Seattle posted the only double-digit ADR gain (up 16.0 percent to $251.29) and the second-highest RevPAR jump (up 20.9 percent to $222.77).

The steepest RevPAR declines were seen in Miami (down 12.8 percent to $130.76) and Orlando (down 10.3 percent to $133.69).