Finance & DevelopmentFinanceCoStar: U.S. Hotel Performance Increases as Expected

CoStar: U.S. Hotel Performance Increases as Expected

WASHINGTON—As expected, U.S. hotel performance increased from the previous week, according to CoStar’s latest data through Dec. 2, 2023.

U.S. Hotel Performance

November 26-December 2, 2023
Percentage change from comparable week in 2022
Occupancy: 54.2 percent (down 1.6 percent)
ADR: $144.88 (up 0.8 percent)
RevPAR: $78.54 (down 0.8 percent)

Among the Top 25 Markets, New York City saw the largest year-over-year increases in occupancy (up 6.8 percent to 83.5 percent) and RevPAR (up 17.2 percent to $319.18).

Las Vegas posted the largest ADR lift (up 11.2 percent to $232.94).

Due to the Miami Art Week/Art Basel calendar shift, Miami saw the steepest declines in each of the three key performance metrics: occupancy (down 14.0 percent to 69.0 percent), ADR (down 42.5 percent to $191.20), and RevPAR (down 50.6 percent to $131.93).