U.S. hotel performance declined slightly from the previous week but showed improved comparisons year over year, according to CoStar’s latest data through 29 July.
23-29 July 2023 (percentage change from comparable week in 2022):
- Occupancy: 72.2% (+0.6%)
- Average daily rate (ADR): US$161.83 (+2.3%)
- Revenue per available room (RevPAR): US$116.91 (+2.9%)
Among the Top 25 Markets, St. Louis saw the largest year-over-year increases in occupancy (+17.4% to 73.6%) and RevPAR (+43.6% to US$105.50).
Nashville reported the largest gain in ADR (+22.4% to US$210.31).
The steepest RevPAR declines were seen in Miami (-14.6% to US$121.58) and San Francisco (-10.5% to US$149.88).
STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.