• Among the Top 25 Markets, New York City experienced the highest occupancy level (84.0%), which was up 6.3% year over year.   

As expected, the U.S. hotel industry reported lower performance results from the previous month but improved year-over-year comparisons, according to November 2023 from CoStar.

November 2023 (percentage change from November 2022):

  • Occupancy: 58.4% (-1.2%)
  • Average daily rate (ADR): US$151.23 (+3.6%)
  • Revenue per available room (RevPAR): US$88.36 (+2.4%)

Among the Top 25 Markets, New York City experienced the highest occupancy level (84.0%), which was up 6.3% year over year.

Markets with the lowest occupancy for the month included Minneapolis (49.1%) and St. Louis (53.2%).

The Top 25 Markets showed higher occupancy and ADR than all other markets.

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.