Following seasonal patterns, U.S. hotel performance declined from the previous week but showed positive comparisons year over year, according to CoStar’s latest data through 26 August.
20-26 August 2023 (percentage change from comparable week in 2022):
- Occupancy: 65.0% (+0.4%)
- Average daily rate (ADR): US$150.23 (+1.7%)
- Revenue per available room (RevPAR): US$97.62 (+2.1%)
Among the Top 25 Markets, Las Vegas saw the largest year-over-year occupancy increase (+7.9% to 76.3%).
Houston posted the highest ADR (+10.5% to US$112.08) and RevPAR (+17.8% to US$64.45) increases.
Miami saw the steepest RevPAR decline (-11.0% to US$102.75).
Of note, outside of the Top 25 Markets, Maui Island reported higher performance from the week prior, but still showed significant year-over-year declines in occupancy (-17.1% to 53.6%) and RevPAR (-26.7% to US$271.21). A further breakdown of the wildfire impact will be included in the next STR Weekly Insights published on Friday, 1 September.
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.