U.S. Hotel Performance Showed Improved YOY Comparisons for the Week of July 29th
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.