The U.S. hotel industry reported mixed performance results month over month, according to July 2023 from CoStar.
July 2023 (percentage change from July 2022):
- Occupancy: 69.1% (-0.5%)
- Average daily rate (ADR): US$160.31 (+1.3%)
- Revenue per available room (RevPAR): US$110.80 (+0.8%)
- Among the Top 25 Markets, San Diego experienced the highest occupancy level (86.5%), which was up 2.6% year over year.
Markets with the lowest occupancy for the month included New Orleans (54.3%) and Phoenix (58.9%).
Reflecting continued improvement in business travel and groups, the Top 25 Markets showed higher occupancy and ADR than all other markets.
