This week in Hospitality & Tourism #49 2023

STR: U.S. hotel results for week ending 2 December

As expected, U.S. hotel performance increased from the previous week, according to CoStar’s latest data through 2 December.

• Among the Top 25 Markets, New York City saw the largest year-over-year increases in occupancy (+6.8% to 83.5%) and RevPAR (+17.2% to US$319.18).
• Las Vegas posted the largest ADR lift (+11.2% to US$232.94).
• Due to the Miami Art Week/Art Basel calendar shift, Miami saw the steepest declines in each of the three key performance metrics: occupancy (-14.0% to 69.0%), ADR (-42.5% to 191.20) and RevPAR (-50.6% to US$131.93).

26 November - 2 December 2023 (percentage change from comparable weeks in 2022, 2019):

• Occupancy: 54.2 (-1.6%, -9.6%)
• Average daily rate (ADR): US$144.88 (+0.8%, +10.8%)
• Revenue per available room (RevPAR): US$78.54 (-0.8%, +0.1%)