• Among the Top 25 Markets, Minneapolis saw the largest year-over-year occupancy increase (+7.4% to 71.3%).   

CoStar;

U.S. hotel performance increased from the previous week, according to CoStar’s latest data through 23 September. 

17-23 September 2023 (percentage change from comparable week in 2022):

  • Occupancy: 68.5% (-1.6%)
  • Average daily rate (ADR): US$164.97 (+2.9%)
  • Revenue per available room (RevPAR): US$112.96 (+1.2%)

Occupancy remained down year over year due to the Rosh Hashanah calendar shift.

Among the Top 25 Markets, Minneapolis saw the largest year-over-year occupancy increase (+7.4% to 71.3%).

Helped by the United Nations General Assembly, New York City posted the highest jumps in ADR (+16.5% to US$488.89) and RevPAR (+17.6% to US$444.47).

San Francisco saw the steepest RevPAR decline (-38.6% to US$175.81), due to the Dreamforce calendar shift.

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.