U.S. Hotel Performance Increased from the Previous Week and Showed Improved YOY Comparisons for the Week of July 15th

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  Helped by Taylor Swifts Eras Tour, Denver posted the largest ADR (+20.1% to US$199.95) and RevPAR (+25.9% to US$177.40) gains.

U.S. hotel performance increased from the previous week and showed improved comparisons year over year, according to CoStar’s latest data through 15 July.

9-15 July 2023 (percentage change from comparable week in 2022):

  • Occupancy: 72.0% (+0.1%)
  • Average daily rate (ADR): US$159.98 (+1.5%)
  • Revenue per available room (RevPAR): US$115.18 (+1.6%)

Among the Top 25 Markets, San Francisco/San Mateo saw the highest year-over-year occupancy increase (+7.7% to 79.4%).

Helped by Taylor Swift’s Eras Tour, Denver posted the largest ADR (+20.1% to US$199.95) and RevPAR (+25.9% to US$177.40) gains.  

The steepest RevPAR declines were seen in Chicago (-8.9% to US$126.62) and Miami (-8.3% to US$123.26).

STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.

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About Mary Weyand 11096 Articles
Mary founded Scoop Tour with an aim to bring relevant and unaltered news to the general public with a specific view point for each story catered by the team. She is a proficient journalist who holds a reputable portfolio with proficiency in content analysis and research. With ample knowledge about the Automobile industry, she also contributes her knowledge for the Automobile section of the website.

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