STR: U.S. hotel results for week ending 4 November

U.S. hotel performance showed an expected decline from the previous week as well as mixed year-over-year comparisons, according to CoStar’s latest data through 4 November. The decrease in occupancy was anticipated with Halloween falling on Tuesday.

• Among the Top 25 Markets, St. Louis saw the largest year-over-year increases in each of the three key performance metrics: occupancy (+6.4% to 59.2%), ADR (+12.3% to US$131.16), and RevPAR (+19.5% to US$77.64). The market’s performance was helped by Metallica’s M72 World Tour.
• The steepest RevPAR declines were seen in Miami (-22.5% to US$131.88) and Tampa (-19.6% to US$87.29).

29 October - 4 November 2023 (percentage change from comparable weeks in 2022, 2019):

• Occupancy: 59.7% (-4.0%, -13.0%)
• Average daily rate (ADR): US$152.90 (+2.0%, +13.1%)
• Revenue per available room (RevPAR): US$91.23 (-2.1%, -1.6%)