As expected, US hotel performance was lower than the previous week, but year-over-year comparisons were improved.
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).
For more information about the company and its products and services, please visit www.costargroup.com
