Due to constricted business travel during the Fourth of July, U.S. hotel performance fell from the previous week and showed weaker year-over-year comparisons, according to STR‘s latest data through 8 July.

2-8 July 2023 (percentage change from comparable week in 2022):

  • Occupancy: 61.8% (-2.3%)
  • Average daily rate (ADR): US$155.81 (+1.2%)
  • Revenue per available room (RevPAR): US$96.36 (-1.2%)

Among the Top 25 Markets, New York City saw the highest year-over-year occupancy increase (+11.4% to 77.3%).

Denver posted the largest ADR gain (+8.6% to US$156.14).

The steepest RevPAR declines were seen in Atlanta (-19.3% to US$64.74) and Minneapolis (-18.8% to US$61.57).

About STR

STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. Founded in 1985, STR maintains a presence in 15 countries with a North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information and analytics in the commercial and residential property markets. For more information, please visit str.com and costargroup.com.