In October, the U.S. hotel industry reported mixed performance results from September, according to the latest from CoStar.
For the month (percentage change from October 2022):
- Occupancy: 65.8 percent (-1.8 percent)
- Average daily rate: $161.56 (+3 percent)
- Revenue per available room: $106.38 (+1.2 percent)
Top Markets
Among CoStar’s top 25 markets, hotels in New York City reported the highest occupancy level (86.8 percent), up 3 percent year over year.
Markets with the lowest occupancy for the month included Houston (59.5 percent) and St. Louis (59.8 percent).
The top 25 markets showed higher occupancy and ADR than all other markets.