This week in Hospitality & Tourism #32 2023
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STR: U.S. hotel results for week ending 5 August
U.S. hotel performance declined from the previous week and showed lower comparisons year over year, according to CoStar’s latest data through 5 August.
- Among the Top 25 Markets, Boston saw the largest year-over-year increases in occupancy (+12.4% to 84.3%) and RevPAR (+25.4% to US$201.02), helped by the FAN EXPO Boston.
- New York City posted the highest lift in ADR (+11.6% to US$268.31) and the second-highest occupancy (+10.4% to 86.6%) and RevPAR gains (+23.3% to US$232.41).
- St. Louis saw the steepest RevPAR decline (-18.3% to US$83.64).
30 July-5 August 2023 (percentage change from comparable weeks in 2022, 2019):
- Occupancy: 68.9% (-1.0%, -6.7%)
- Average daily rate (ADR): US$158.10 (+2.2%, +17.4%)
- Revenue per available room (RevPAR): US$108.97 (+1.2%, +9.6%)