U.S. hotels in August posted year-over-year increases in average daily rate, occupancy and revenue per available room, according to CoStar.
While August marked the sixth consecutive month of gains in key performance metrics at U.S. hotels, CoStar noted that its growth marked a "slower pace" than July. RevPAR increased 2.0 percent year over year to $107.43, led by a 1.5 percent rise in ADR to $161.78 and a 0.5 percent bump in occupancy to 66.4 percent.
Among CoStar's top 25 markets, San Francisco reported the largest gains in occupancy (6.6 percent to 79.3 percent), ADR (8.7 percent to $216.77) and RevPAR (15.8 percent to $171.84). New Orleans registered the largest declines in occupancy (down 7.7 percent to 43.3 percent) and RevPAR (down 9.0 percent to $51.63), and New York City saw the steepest drop off in ADR (down 3.3 percent to $275.07).
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