As expected, U.S. hotel performance was lower than the previous week, but year-over-year comparisons were improved, according to CoStar’s latest data through 30 September. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.

24-30 September 2023 (percentage change from comparable week in 2022):

  • Occupancy: 66.7% (+0.8%)
  • Average daily rate (ADR): US$157.89 (+4.6%)
  • Revenue per available room (RevPAR): US$105.31 (+5.4%)

Occupancy was up year over year on the positive side of the Rosh Hashanah calendar shift. At the same time, the Yom Kippur observance led to lower levels on weekdays.

The Top 25 Markets saw solid growth across all days of the week because of the easier year-over-year comparable.

  • San Francisco/San Mateo experienced the largest year-over-year increases in occupancy (+10.9% to 83.2%) and RevPAR (+22.6% to US$215.61).
  • Washington, D.C. also eclipsed 20% in RevPAR growth (+20.3% to US$154.13).
  • Oahu Island (+10.3% to 79.0%) and Minneapolis (+10.0% to 67.1%) were the other two markets to report double-digit occupancy growth.
  • New York City once again posted the highest jump in ADR (+13.7% to US$342.45).
  • Atlanta saw the steepest declines in occupancy (-6.4% to 64.6%) and RevPAR (-7.7% to US$79.56).

About STR

STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. Founded in 1985, STR maintains a presence in 15 countries with a 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), a leading provider of online real estate marketplaces, information and analytics in the commercial and residential property markets. For more information, please visit str.com and costargroup.com.