Afternoon hillside view in San Francisco - Unsplash
  Among the Top 25 Markets, San Francisco saw the largest year-over-year occupancy increase (+8.2% to 76.9%).

CoStar;

Following seasonal patterns, U.S. hotel performance declined from the previous week but showed most positive comparisons year over year, according to CoStar’s latest data through 19 August.

13-19 August 2023 (percentage change from comparable week in 2022):

  • Occupancy: 67.0% (-0.1%)
  • Average daily rate (ADR): US$154.10 (+1.8%)
  • Revenue per available room (RevPAR): US$103.22 (+1.8%)

Among the Top 25 Markets, San Francisco saw the largest year-over-year occupancy increase (+8.2% to 76.9%).   

New York City posted the highest ADR (+10.7% to US$256.33) and RevPAR (+19.7% to US$214.86) increases.

Orlando saw the steepest RevPAR decline (-8.0% to US$89.94).

Of note, outside of the Top 25 Markets, Maui Island reported significant year-over-year declines in occupancy (-27.6% to 49.0%) and RevPAR (-40.8% to US$249.49). A further breakdown of the wildfire impact will be included in the next STR Weekly Insights published on Friday, 25 August.

CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. For more information about the company and its products and services, please visit www.costargroup.com.