CoStar: U.S. Hotel Performance Reached Highest ADR and RevPAR on Record in 2023
WASHINGTON—The U.S. hotel industry posted its highest average daily rate (ADR) and revenue per available room (RevPAR) on record, according to 2023 data from CoStar. U.S. Hotel Performance During 2023 Percentage change from 2022:Occupancy: 63.0% (+0.6%)ADR: US$155.62 (+4.3%)RevPAR: US$97.97 (+4.9%) The country’s occupancy level was its highest since 2019. Among the Top 25 Markets, New York City experienced the highest levels in each of the three key performance metrics: occupancy (up 8.8 percent to 81.6 […]
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