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CoStar: Anticipated dip in U.S. hotel performance in second week of December

San Francisco led in YoY increases across all key metrics

CoStar: Anticipated dip in U.S. hotel performance in second week of December

U.S. HOTEL PERFORMANCE stayed below the levels of the previous week as anticipated, according to CoStar. Occupancy, ADR, and RevPAR all saw declines compared to the preceding week. However, year-over-year comparisons remained positive.

Occupancy dropped to 54.7 percent for the week ending Dec. 16, down from the previous week's 58.7 percent, but reflected a year-over-year increase of 1.1 percent. ADR decreased to $142.62, compared to the previous week's $153.36, showing a 4.7 percent uptick from the prior year. RevPAR also declined to $77.99, compared to the prior week's $89.98, indicating a 5.8 percent increase from the corresponding period in 2022.


Among the top 25 markets, San Francisco saw the largest year-over-year increases in all three key performance metrics: occupancy surged by 32.0 percent to 70.2 percent, ADR soared 21.5 percent to $223.78, and RevPAR increased by 60.3 percent to $157.14.

Chicago experienced the sharpest RevPAR decline, falling by 13.5 percent to $64.61, while Washington, D.C., saw a 6.7 percent decrease to $90.28.

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AHLA Signs US Food Waste Pact
Photo credit: AHLA

AHLA signs Food Waste Pact

Summary:

  • AHLA joined the U.S. Food Waste Pact to reduce food waste.
  • The association is the 30th business to join, alongside Hilton.
  • It has also supported federal food waste reduction bills.

THE AMERICAN HOTEL & Lodging Association joined the U.S. Food Waste Pact, a joint initiative led by ReFED and the World Wildlife Fund. The association joined other businesses and organizations in signing the Pact’s voluntary agreement, which uses the “Target, Measure, Act” framework to guide industry action.

AHLA is the 30th business to join, with Hilton Worldwide Holdings among the other hospitality signatories, the association said in a statement.

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