This week in Hospitality & Tourism #33 2023

STR: U.S. hotel results for week ending 12 August

U.S. hotel performance declined from the previous week but showed mostly positive comparisons year over year, according to CoStar’s latest data through 12 August.

• Among the Top 25 Markets, Los Angeles saw the largest year-over-year growth in each of the key performance metrics: occupancy (+13.5% to 82.6%), ADR (+8.4% to US$222.98) and RevPAR (+23.0% to US$184.16), helped by Taylor Swift’s Eras Tour.
• New York City posted the second-highest performance increases: occupancy (+7.3% to 83.6%), ADR (+8.3% to US$258.39) and RevPAR (+16.3% to US$216.06).
• St. Louis saw the steepest RevPAR decline (-22.1% to US$63.80).
• Of note, outside of the Top 25 Markets, Maui Island reported significant year-over-year declines in occupancy (-22.6% to 57.1%) and RevPAR (-21.7% to US$389.92).

6-12 August 2023 (percentage change from comparable weeks in 2022, 2019):

• Occupancy: 68.3% (0.0%, -4.5%)
• Average daily rate (ADR): US$156.47 (+2.0%, +19.0%)
• Revenue per available room (RevPAR): US$106.89 (+2.0%, +13.6%)