Hospitality Data Minute: October 1-7

By David Berman | October 12, 2023

United States hotel performance showed positive results this week compared to last week and last year, according to STR, a data solutions and insights group.

STR reported the data from CoStar, a “leading provider of online real estate marketplaces, information and analytics in the property markets.”

STR listed U.S. hotel occupancy as 67.8%, up 1.1% compared to last week but down 0.2% compared to the same week in 2022. Average daily rate grew 5.4% year-over-year to $163.19, and Revenue Per Available Room increased by 5.2% to $110.68.  Compared to last week, ADR increased 3.36% and RevPAR increased 5.10%.

Among the Top 25 Markets, Chicago had the highest year-over-year gain in occupancy, up 11.2% to 74.9%. For the third consecutive week, New York City posted the highest ADR jump, up 13.9% to $358.81. Boston had the highest RevPAR increase (up 23.1% to $242.49).

Tampa had the steepest RevPAR (down 18.0% to $102.38) and occupancy (down 18.5% to 65.2%) declines.