U.S. hotel industry reported mixed performance results for July 2023
The U.S. hotel industry reported mixed performance results month over month, according to data from CoStar. San Diego experienced the highest occupancy level (86.5 percent), which was up 2.6 percent year-over-year in the month of July.
Markets with the lowest occupancy for the month included New Orleans (54.3 percent) and Phoenix (58.9 percent).
Reflecting continued improvement in business travel and groups, the Top 25 Markets showed higher occupancy and average daily rate (ADR) than all other markets.
Overall occupancy in July was at 69.1 percent, a –0.5 percent drop from the month before. ADR was $160.31 (up 1.3 percent), and revenue per available room (RevPAR) was $110.80 (up 0.8 percent).