U.S. Hotels Report Positive YOY Performance Comparisons for the Week Ending August 19th

August 24, 2023

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%).

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.

Comments are closed