WASHINGTON—U.S. hotel performance increased from the previous week and year-over-year comparisons were mostly positive, according to CoStar’s latest data through Oct. 7, 2023.
U.S. Hotel Performance
October 1-7, 2023
Percentage change from comparable week in 2022
Occupancy: 67.8 percent (down 0.2 percent)
ADR: $163.19 (up 5.4 percent)
RevPAR: $110.68 (up 5.2 percent)
Percentage changes were positive on weekdays because of comparisons with the Yom Kippur period last year. Performance levels were notably higher for the long holiday weekend, but occupancy was still down year over year.
Among the Top 25 Markets, Chicago saw the only double-digit gain in occupancy (up 11.2 percent to 74.9 percent).
New York City posted the highest increase in ADR (up 13.9 percent to $358.81).
Boston reported the largest year-over-year increase in RevPAR (up 23.1 percent to $242.49).
Tampa experienced the steepest declines in occupancy (down 18.5 percent to 65.2 percent) and RevPAR (down 18.0 percent to $102.38).