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).
