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.