CoStar: Occupancy declined before holidays in third week of December

U.S. HOTEL PERFORMANCE declined in the third week of December as anticipated ahead of the holidays, according to CoStar. Three key metrics—occupancy, ADR, and RevPAR—all dipped compared to the previous week.

Occupancy fell to 43.9 percent for the week ending Dec. 23, down from the previous week's 54.7 percent, but demonstrated a year-over-year increase of 0.5 percent. ADR decreased to $131.97, compared to the prior week's $142.62, marking a 0.9 percent decline from the previous year. RevPAR also declined to $57.9, compared to the prior week's $77.99, indicating a 0.4 percent decrease from the corresponding period in 2022.

Among the top 25 markets, Boston experienced the most significant year-over-year increases, with occupancy rising by 21.5 percent to 46.2 percent and RevPAR up by 23.1 percent to $65.68. Anaheim recorded the highest ADR increase, rising by 14.7 percent to $190.86.

Meanwhile, Denver and San Francisco both experienced the most significant RevPAR declines, down 11.7 percent to $47.25 and $58.63, respectively.