United States Trailing Global Competitors; National Leadership Increasingly Critical
U.S. hotel performance increased from the previous week, while year-over-year comparisons remained mixed, according to CoStar's latest data through 13 January.
As expected due to the holiday season, the U.S. hotel industry reported lower performance results month over month, according to December 2023 data from CoStar.
The country’s occupancy level was its highest since 2019.
The U.S. ranked 17th out of 18 countries analyzed, stemming from decades of underinvestment and a lack of focus and coordination from the federal government.
U.S. hotel performance decreased from the previous week, while year-over-year comparisons improved, according to CoStar’s latest data through 6 January.
CBRE Hotels Research analyzed ten years of hotel brand performance for six large public hotel companies, encompassing over three million rooms or 60% of US supply as of year-end 2022. Revenue per available room (RevPAR) growth for only 10 of the 49 brands held by these six companies met or exceeded the 2.9% compound annual growth rate (CAGR) of the Consumer Price Index (CPI) from 2013 to 2022.
U.S. hotel performance increased from the previous week, while year-over-year comparisons were skewed downward due to a calendar shift, according to CoStar’s latest data through 30 December.
Year-over-year growth in RevPAR doubled to 2.4% compared to the 1.2% gain seen for October. The calendar was clean with equal numbers of weekdays and weekends, unlike the previous month when the calendar negatively impacted performance.
As anticipated ahead of the holidays, U.S. hotel performance fell from the previous week, according to CoStar’s latest data through 23 December. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.