Marriott and Hyatt saw significant gains in Q3 2023

Marriott saw an 8.8% increase in RevPAR, worldwide, versus the same period a year ago. It reported a strong leisure and group demand.

Hyatt also posted strong Q3 results. Global RevPAR increased 8.9%. Hyatt continues to invest in Asia, which contributed significantly to the Q3 performance.

STR: U.S. hotel results for week ending 28 October

U.S. hotel performance decreased from the previous week but showed positive year-over-year comparisons, according to CoStar’s latest data through 28 October.

• Among the Top 25 Markets, Minneapolis saw the largest year-over-year lift in occupancy (+12.7% to 64.5%).
• New York City posted the highest ADR increase (+12.7% to US$365.05).
• San Francisco reported the largest jump in RevPAR (+22.7% to US$178.32).
• Tampa saw the steepest RevPAR decline (-16.9% to US$98.63).

22-28 October 2023 (percentage change from comparable weeks in 2022, 2019):

• Occupancy: 66.0% (+0.7%, +5.3%)
• Average daily rate (ADR): US$160.89 (+3.9%, +26.1%)
• Revenue per available room (RevPAR): US$106.16 (+4.6%, +33.4%)