STR Reports U.S. Hotel Performance for August 2023
Among the Top 25 Markets, Oahu Island experienced the highest occupancy level (84.4%), which was up 3.4% year over year.
Following seasonal patterns, the U.S. hotel industry reported lower performance results from the previous month but improved comparisons year over year, according to August 2023 hotel performance data from CoStar.
August 2023 (percentage change from August 2022):
- Occupancy: 66.0% (-0.3%)
- Average daily rate (ADR): US$153.60 (+1.8%)
- Revenue per available room (RevPAR): US$101.35 (+1.5%)
Among the Top 25 Markets, Oahu Island experienced the highest occupancy level (84.4%), which was up 3.4% year over year.
Markets with the lowest occupancy for the month included New Orleans (45.7%) and Houston (56.8%).
The Top 25 Markets showed higher occupancy and ADR than all other markets.
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.
Categories: Trends