CoStar: U.S. hotel performance reflects seasonal trends for week ending Aug. 19

U.S. HOTEL PERFORMANCE declined in the week ending August 19 compared to the previous week, consistent with seasonal patterns, according to CoStar. However, year-over-year comparisons showed signs of improvement.

Occupancy reached 67 percent for the week ending Aug. 19, slightly below the previous week's 68.3 percent and a marginal 0.1 percent decrease compared to 2022. ADR stood at $154.10, a decline from the previous week's $156.47, yet showcasing a 1.8 percent growth compared to the same period last year. RevPAR was $103.22, lower than the prior week's $106.89, but still indicating a 1.8 percent rise from 2022.

Among the top 25 markets, San Francisco experienced the largest year-over-year occupancy boost from the seasonal patterns, climbing 8.2 percent to achieve 76.9 percent. New York City exhibited the highest ADR, with a 10.7 percent rise to $256.33, and also the highest RevPAR increase, up by 19.7 percent to $214.86.

Orlando experienced the most significant RevPAR decrease, dropping by 8.0 percent to reach $89.94.

Notably, outside the Top 25 markets, Maui Island noted year-over-year declines in occupancy, down by 27.6 percent to 49.0 percent, and RevPAR, declining by 40.8 percent to $249.49.