• Among the Top 25 Markets, New York City experienced the highest levels in each of the three key performance metrics: occupancy (+8.8% to 81.6%), ADR (+8.5% to US$301.22) and RevPAR (+18.1% to US$245.77).   

The U.S. hotel industry posted its highest average daily rate (ADR) and revenue per available room (RevPAR) on record, according to 2023 data from CoStar.

2023 (percentage change from 2022):

  • Occupancy: 63.0% (+0.6%)
  • ADR: US$155.62 (+4.3%)
  • RevPAR: US$97.97 (+4.9%)

The country’s occupancy level was its highest since 2019.

Among the Top 25 Markets, New York City experienced the highest levels in each of the three key performance metrics: occupancy (+8.8% to 81.6%), ADR (+8.5% to US$301.22) and RevPAR (+18.1% to US$245.77).

New Orleans (-6.8% to US$100.40) and Miami (-6.7% to US$159.22) reported the only RevPAR decreases in 2023.

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.