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US HOTELS GROW ROOM RATES BY NEARLY 4% IN FINAL WEEK OF OCTOBER


MINNEAPOLIS HOTELS REPORT LARGEST YEAR-OVER-YEAR OCCUPANCY GAIN

Aerial view of downtown Minneapolis over the Mississippi River. (Getty Images)

By HNN Newswire


November 2, 2023 | 2:17 P.M.



U.S. hotel performance decreased from the previous week but showed positive
year-over-year comparisons, according to CoStar’s latest data through Oct. 28.
CoStar is a leading provider of online real estate marketplaces, information and
analytics in the property markets.

Oct. 22-28, 2023 (percentage change from comparable week in 2022):

 * Occupancy: 66.0% (+0.7%)
 * Average daily rate (ADR): $160.89 (+3.9%)
 * Revenue per available room (RevPAR): $106.16 (+4.6%)

Among the Top 25 Markets, Minneapolis saw the largest year-over-year lift in
occupancy (+12.7% to 64.5%).

New York City posted the highest ADR increase (+12.7% to $365.05).

San Francisco reported the largest jump in RevPAR (+22.7% to $178.32).

Tampa saw the steepest RevPAR decline (-16.9% to $98.63).

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ADDITIONAL PERFORMANCE DATA

CoStar’s world-leading hotel performance sample comprises 78,000 properties and
10.3 million rooms around the globe. Members of the media should refer to the
contacts listed below for additional data requests.




ABOUT COSTAR GROUP

CoStar Group (NASDAQ: CSGP) is a leading provider of online real estate
marketplaces, information, and analytics in the property markets. Founded in
1987, CoStar Group conducts expansive, ongoing research to produce and maintain
the largest and most comprehensive database of real estate information. CoStar
is the global leader in commercial real estate information, analytics, and news,
enabling clients to analyze, interpret and gain unmatched insight on property
values, market conditions and availabilities. Apartments.com is the leading
online marketplace for renters seeking great apartment homes, providing property
managers and owners a proven platform for marketing their properties. LoopNet is
the most heavily trafficked online commercial real estate marketplace with over
twelve million monthly global unique visitors. STR provides premium data
benchmarking, analytics, and marketplace insights for the global hospitality
industry. Ten-X offers a leading platform for conducting commercial real estate
online auctions and negotiated bids. Homes.com is the fastest growing online
residential marketplace that connects agents, buyers, and sellers. BureauxLocaux
is one of the largest specialized property portals for buying and leasing
commercial real estate in France. Business Immo is France’s leading commercial
real estate news service. Thomas Daily is Germany’s largest online data pool in
the real estate industry. Belbex is the premier source of commercial space
available to let and for sale in Spain. CoStar Group’s websites attract nearly
100 million unique monthly visitors. Headquartered in Washington, DC, CoStar
Group maintains offices throughout the U.S., Europe, Canada, and Asia. From time
to time, we plan to utilize our corporate website, CoStarGroup.com, as a channel
of distribution for material company information. For more information, visit
CoStarGroup.com.



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