WASHINGTON – U.S. hotel performance increased from the previous week, while year-over-year comparisons were skewed downward due to a calendar shift, according to CoStar’s latest data through 30 December. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.

24-30 December 2023 (percentage change from comparable week in 2022):

  • Occupancy: 50.1% (-7.1%)
  • Average daily rate (ADR): US$163.58 (-2.8%)
  • Revenue per available room (RevPAR): US$82.01 (-9.7%)

Year-over-year comparisons were negative as the comparable week from 2022 (25 December-31 December) ended with New Year’s Eve.

Among the Top 25 Markets, Miami saw the largest year-over-year increase in occupancy (+3.9% to 79.6%). The market’s performance was helped by the Capital One Orange Bowl and New Year’s Eve weekend.

Anaheim posted the highest gains in ADR (+11.9% to US$219.71) and RevPAR (+12.5% to US$160.25).

The steepest RevPAR declines were seen in Las Vegas (-28.3% to US$112.79) and Nashville (-27.0% to US$80.19).

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

Additional Performance Data: CoStar’s world-leading hotel performance sample comprises 80,000 properties and 10.5 million rooms around the globe. Members of the media should refer to the contacts listed below for additional data requests.

About CoStar Group

CoStar Group (NASDAQ: CSGP) is a leading provider of online real estate marketplaces, information, and analytics in the property markets. Founded in 1987, CoStar Group conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of real estate information. CoStar is the global leader in commercial real estate information, analytics, and news, enabling clients to analyze, interpret and gain unmatched insight on property values, market conditions and availabilities. Apartments.com is the leading online marketplace for renters seeking great apartment homes, providing property managers and owners a proven platform for marketing their properties. LoopNet is the most heavily trafficked online commercial real estate marketplace with over twelve million monthly global unique visitors. STR provides premium data benchmarking, analytics, and marketplace insights for the global hospitality industry. Ten-X offers a leading platform for conducting commercial real estate online auctions and negotiated bids. Homes.com is the fastest growing online residential marketplace that connects agents, buyers, and sellers. BureauxLocaux is one of the largest specialized property portals for buying and leasing commercial real estate in France. Business Immo is France’s leading commercial real estate news service. Thomas Daily is Germany’s largest online data pool in the real estate industry. Belbex is the premier source of commercial space available to let and for sale in Spain. CoStar Group’s websites attract over 160 million unique monthly visitors. Headquartered in Washington, DC, CoStar Group maintains offices throughout the U.S., Europe, Canada, and Asia. From time to time, we plan to utilize our corporate website, CoStarGroup.com, as a channel of distribution for material company information. For more information, visit 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.

Haley Luther
Communications Manager
+1 (216) 278 0627
STR

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