U.S. Hotel Results for Week Ending 16 September

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U.S. hotel performance increased from the previous week, according to CoStar’s latest data through 16 September. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.

10-16 September 2023 (percentage change from comparable week in 2022):

  • Occupancy: 67.7% (-2.2%)
  • Average daily rate (ADR): US$161.15 (+2.3%)
  • Revenue per available room (RevPAR): US$109.07 (+0.1%)

Among the Top 25 Markets, Oahu Island saw the largest year-over-year occupancy increase (+7.4% to 83.6%).

Helped by Dreamforce 2023, San Francisco posted the highest jumps in ADR (+39.7% to US$345.78) and RevPAR (+33.9% to US$271.19).

New Orleans saw the steepest RevPAR decline (-23.8% to US$69.01).

For more information about the company and its products and services, please visit www.costargroup.com.

Additional Performance Data
CoStar’s world-leading hotel performance sample comprises 78,000 properties and 10.3 million rooms around the globe. Members of the media should refer to the contacts listed below for additional data requests.

About CoStar Group
CoStar Group (NASDAQ: CSGP) is a leading provider of online real estate marketplaces, information, and analytics in the property markets. Founded in 1987, CoStar Group conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of real estate information. CoStar is the global leader in commercial real estate information, analytics, and news, enabling clients to analyze, interpret and gain unmatched insight on property values, market conditions and availabilities. Apartments.com is the leading online marketplace for renters seeking great apartment homes, providing property managers and owners a proven platform for marketing their properties. LoopNet is the most heavily trafficked online commercial real estate marketplace with over twelve million monthly global unique visitors. STR provides premium data benchmarking, analytics, and marketplace insights for the global hospitality industry.

For 20+ years, the MEET family of products have provided regional and national resources that have kept corporate, association, medical, education, independent, and religious meeting and event planners informed about relevant vendors, industry news, tech innovations, and resources that impact and influence how and where they plan their group business.

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