Following seasonal patterns, U.S. hotel performance showed mixed results from the previous week but positive comparisons year over year, according to CoStar’s latest data through 2 September. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.

27 August through 2 September 2023 (percentage change from comparable week in 2022):

  • Occupancy: 62.7% (+0.2%)
  • Average daily rate (ADR): US$150.52 (+1.8%)
  • Revenue per available room (RevPAR): US$94.38 (+2.0%)

Among the Top 25 Markets, Minneapolis saw the largest year-over-year increases in occupancy (+19.1% to 74.4%) and RevPAR (+26.7% to US$101.06).

Las Vegas posted the highest lift in ADR (+9.0% to US$181.61) and the second-largest jumps in occupancy (+15.9% to 74.4%) and RevPAR (+26.3% to US$135.07).

New Orleans saw the steepest RevPAR decline (-17.2% to US$61.20).

For more information about the company and its products and services, please visit www.costargroup.com.

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.