U.S. hotel occupancy fell year over year for a ninth consecutive month, according to November 2025 data from CoStar.
November 2025 (percentage change from November 2024):
- Occupancy: 57.9 percent (-2.8 percent)
- Average daily rate: $153.77 (+0.6 percent)
- Revenue per available room: $88.97 (-2.3 percent)
Top Markets
Among CoStar’s top 25 markets, Tampa experienced the steepest declines across each of the three key performance metrics: occupancy (-21.1 percent to 63.3 percent), ADR (-7.7 percent to $154.11) and RevPAR (-27.1 percent to $97.57). The market’s performance was impacted by the elevated displacement demand period that followed Hurricane Milton in 2024.
Markets with the lowest occupancy for the month included Minneapolis (51.9 percent) and Detroit (55.9 percent).
The top 25 markets showed higher occupancy and ADR than all other markets.