The U.S. hotel industry reported positive year-over-year comparisons, according to CoStar’s latest data.
For the week of Sept. 22-28 (percentage change from comparable week in 2023):
- Occupancy: 68.4 percent (+2.6 percent)
- Average daily rate: $170.24 (+7.5 percent)
- Revenue per available room: $116.50 (+10.2 percent)
Top Markets
Among CoStar’s top 25 markets, New York City saw the highest year-over-year increases in each of the key performance metrics: occupancy (+11.4 percent to 93.2 percent), ADR (+52.8 percent to $523.69) and RevPAR (+70.1 percent to $488.32). The market’s performance was driven by the United Nations General Assembly.
The steepest RevPAR declines were seen in San Francisco (-17.6 percent to $177.81) and Nashville (-5.5 percent to $136.06).