U.S. hotel efficiency increased from the previous week and revealed enhanced contrasts year over year, according to CoStar's newest information through 15 July.
9-15 July 2023 (portion modification from similar week in 2022):
- Tenancy: 72.0% (+0.1%)
- Typical day-to-day rate (ADR): US$ 159.98 (+1.5%)
- Earnings per readily available space (RevPAR): US$ 115.18 (+1.6%)
Amongst the Top 25 Markets, San Francisco/San Mateo saw the greatest year-over-year tenancy boost (+7.7% to 79.4%).
Assisted by Taylor Swift's Eras Tour, Denver published the biggest ADR (+20.1% to US$ 199.95) and RevPAR (+25.9% to US$ 177.40) gains.
The steepest RevPAR decreases were seen in Chicago (-8.9% to US$ 126.62) and Miami (-8.3% to US$ 123.26).
STR supplies premium information benchmarking, analytics and market insights for international hospitality sectors. Established in 1985, STR keeps an existence in 15 nations with a business North American head office in Hendersonville, Tennessee, a worldwide head office in London, and an Asia Pacific head office in Singapore. STR was obtained in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading supplier of business realty info, analytics and online markets. For more details, please see str.com and costargroup.com.