Among U.S. hotels, revenue per available room and average daily rate in December showed modest year-over-year increases while occupancy slipped, according to hotel analytics firm STR.
December U.S. hotel RevPAR was $79.42, up 0.3 percent year over year and down from $88.36 the month prior. December U.S. hotel ADR was $151.13, up 2.1 percent year over year and down slightly from $151.23 in November.
U.S. hotel occupancy in December was 52.6 percent, down 1.8 percent year over year and down from 58.4 percent the month prior.
Across the board, the lower month-to-month metrics were “as expected” due to the holiday season, according to STR.
Among STR’s top 25 markets, New York City again reported the highest December occupancy level at 86.6 percent, which was up 4.3 percent year over year. Minneapolis and St. Louis again had the lowest occupancy among those cities, at 42.5 percent and 45.8 percent, respectively.
Overall, the top 25 markets “showed higher occupancy and ADR than all other markets,” in December and for full-year 2023, according to STR.
Full-Year 2023 Metrics
In 2023, the U.S. hotel industry reported its highest annual RevPAR and ADR “on record,” according to STR. U.S. hotel RevPAR was $97.97 in 2023, up 4.9 percent year over year, and ADR was $155.62, up 4.3 percent.
Additionally, 2023 U.S. hotel occupancy was 63 percent, up 0.6 percent year over year and the country’s “highest since 2019,” according to STR.
Among STR’s top 25 markets, New York City reported the highest performance levels across the board in 2023. New York RevPAR in 2023 was $245.77, up 18.1 percent year over year, while ADR was $301.22, up 8.5 percent. New York’s occupancy in 2023 was 81.6 percent, up 8.8 percent.
