This week in Hospitality & Tourism #30 2023

STR: U.S. hotel results for week ending 22 July

U.S. hotel performance increased from the previous week and showed improved comparisons year over year, according to CoStar’s latest data through 22 July.

• The U.S. occupancy level was the highest since the week ending 10 August 2019.
• Among the Top 25 Markets, New York City saw the largest year-over-year increases in occupancy (+11.8% to 90.9%) and RevPAR (+21.2% to US$253.61).
• Helped by Taylor Swift’s Eras Tour, Seattle posted the only double-digit ADR gain (+16.0% to US$251.29) and the second-highest RevPAR jump (+20.9% to US$222.77).
• The steepest RevPAR declines were seen in Miami (-12.8% to US$130.76) and Orlando (-10.3% to US$133.69).

16-22 July 2023 (percentage change from comparable weeks in 2022, 2019):

• Occupancy: 72.90% (+0.5%, -5.6%)
• Average daily rate (ADR): US$161.65 (+1.5%, +18.1%)
• Revenue per available room (RevPAR): US$117.91 (+2.0%, +11.6%)