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U.S. hotel performance declines in fourth week of October

Minneapolis saw a 12.7 percent YoY increase in occupancy, reaching 64.5 percent

U.S. hotel performance declines in fourth week of October

U.S. hotel performance has declined in the fourth week of October compared to the previous week, according to CoStar. However, year-over-year comparisons revealed positive results.

Occupancy came in at 66 percent for the week ending Oct. 28, slightly lower than the previous week's 69 percent, but with year-over-year growth of 0.7 percent. ADR dropped to $160.89, down from the previous week's $165.32, yet showing a notable 3.9 percent increase from the previous year. Similarly, RevPAR saw a decrease, reaching $106.16 compared to the previous week's $114.04, but reflecting a solid 4.6 percent rise from 2022.


Among the top 25 markets, Minneapolis saw the largest year-over-year increase in occupancy, rising by 12.7 percent to reach 64.5 percent.

New York City posted the highest ADR increase, up 12.7 percent to $365.05. San Francisco reported the largest jump in RevPAR, surging 22.7 percent to $178.32. Tampa saw the steepest RevPAR decline, down 16.9 percent to $98.63.

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