U.S. Hotel Performance Sees Mixed Year-over-Year Trends: CoStar Report

According to CoStar’s latest data through 14 October, U.S. hotel performance demonstrated improvements from the previous week, with year-over-year comparisons presenting a mixed picture.

For the week of 8-14 October 2023, the key metrics displayed the following changes compared to the same week in 2022:

• Occupancy: 68.5% (-2.3%)
• Average Daily Rate (ADR): US$164.25 (+3.2%)
• Revenue Per Available Room (RevPAR): US$112.51 (+0.8%)

Analyzing the Top 25 Markets, Oahu Island stood out with significant year-over-year increases in occupancy (+17.8% to 85.2%) and RevPAR (+29.7% to US$243.22).

Las Vegas led in ADR with a notable rise of 14.7% to US$226.94 and the second-largest jump in RevPAR (+21.1% to US$199.88).

On the flip side, New Orleans experienced the most substantial RevPAR decline, dropping by 28.3% to US$107.38.