U.S. hotel results for week ending 23 September
U.S. hotel performance increased from the previous week according to CoStar’s latest data through 23 September. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.
U.S. hotel performance increased from the previous week according to CoStar’s latest data through 23 September. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.
17-23 September 2023 (percentage change from comparable week in 2022):
- Occupancy: 68.5% (-1.6%)
- Average daily rate (ADR): US$164.97 (+2.9%)
- Revenue per available room (RevPAR): US$112.96 (+1.2%)
Occupancy remained down year over year due to the Rosh Hashanah calendar shift.
Among the Top 25 Markets, Minneapolis saw the largest year-over-year occupancy increase (+7.4% to 71.3%).
Helped by the United Nations General Assembly, New York City posted the highest jumps in ADR (+16.5% to US$488.89) and RevPAR (+17.6% to US$444.47).
San Francisco saw the steepest RevPAR decline (-38.6% to US$175.81), due to the Dreamforce calendar shift.