U.S. hotel performance rises in first week of December

Boston led in YoY occupancy, surging to 72.7 percent

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U.S. hotel performance December
Occupancy increased to 58.7 percent for the week ending Dec. 9, up from the prior week’s 54.2 percent, with a 1.1 percent year-over-year decrease, according to CoStar. ADR rose to $153.36, compared to the previous week’s $144.88, reflecting a 4.5 percent uptick from the prior year. RevPAR surged to $89.98, compared to the prior week’s $78.54, indicating a 3.3 percent decrease from the same period in 2022.

U.S. HOTEL PERFORMANCE saw a significant increase in the first week of December compared to the previous week, with improvements in hotel occupancy, ADR and RevPAR, according to CoStar. Year-over-year results also reflected positive trends.

Occupancy rose to 58.7 percent for the week ending Dec. 9, up from the previous week’s 54.2 percent, reflecting a year-over-year decrease of 1.1 percent. ADR increased to $153.36, compared to the previous week’s $144.88, showing a 4.5 percent uptick from the prior year. RevPAR also soared to $89.98, compared to the prior week’s $78.54, indicating a 3.3 percent decrease from the corresponding period in 2022.

Among the top 25 markets, Boston saw the largest year-over-year occupancy increase, surging by 4.1 percent to 72.7 percent. Helped by Miami Art Week and Art Basel, Miami reported significant increases in ADR, soaring 48.8 percent to $314.55, and RevPAR, jumping 67 percent to $262.16.

The steepest RevPAR drops occurred in New Orleans, plummeting by 26.8 percent to $97.72, and Philadelphia, declining by 20.3 percent to $84.24.