Annual U.S. hotel occupancy and revenue per available room fell year over year for the first time since 2020, according to 2025 data from CoStar.
2025 (percentage change from 2024):
- Occupancy: 62.3 percent (-1.2 percent)
- Average daily rate (ADR): $160.54 (+0.9 percent)
- RevPAR: $100.02 (-0.3 percent)
Top Markets
Among CoStar’s top 25 markets, New York City saw the highest absolute levels in each of the key performance metrics: occupancy (84.1 percent), ADR ($333.71) and RevPAR ($280.71). Occupancy was 0.2 percent lower than 2024, while ADR and RevPAR were up 4.7 percent and 4.5 percent, respectively.
San Francisco posted the highest increases in ADR (+6.0 percent to $225.82) and RevPAR (+11.8 percent to $155.84), while St. Louis posted reported the largest gain in occupancy (+6.5 percent to 61.7 percent).
Houston saw the steepest drop in occupancy (-8.6 percent to 58.9 percent).
Las Vegas registered the largest declines in ADR (-4.3 percent to $199.79) and RevPAR (-10.9 percent to $149.13)