The U.S. Hotel Industry Reported Mixed Performance Results for July 2023

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CoStar

August, 21 2023

Amongst the Top 25 Markets, San Diego experienced the greatest tenancy level (86.5%), which was up 2.6% year over year.

The U.S. hotel market reported combined efficiency results month over month, according to July 2023 from CoStar.

July 2023 (portion modification from July 2022):

• Tenancy: 69.1% (-0.5%)
• Typical everyday rate (ADR): US$ 160.31 (+1.3%)
• Income per offered space (RevPAR): US$ 110.80 (+0.8%)

Amongst the Top 25 Markets, San Diego experienced the greatest tenancy level (86.5%), which was up 2.6% year over year.

Markets with the most affordable tenancy for the month consisted of New Orleans (54.3%) and Phoenix (58.9%).

Showing ongoing enhancement in service travel and groups, the Top 25 Markets revealed greater tenancy and ADR than all other markets.

CoStar is a leading service provider of online property markets, details and analytics in the residential or commercial property markets. For more details about the business and its services and products, please check out www.costargroup.com.

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