Occupancy and RevPAR down in 2025; New York and San
Francisco shine, while Houston and Vegas struggle.
NATIONAL REPORT – U.S. hotel occupancy and RevPAR in 2025 fell
year over year for the first time since 2020, according to CoStar data.
For full-year 2025, occupancy was 62.3% (-1.2% YOY); ADR was
$160.54 (+0.9% YOY); and RevPAR was $100.02 (-0.3% YOY).
Among
the Top 25 Markets, New York City saw the highest absolute levels in each of
the key performance metrics: occupancy (84.1%), ADR ($333.71) and RevPAR ($280.71).
Occupancy was 0.2% lower than 2024, while ADR and RevPAR were up 4.7% and 4.5%,
respectively.
San Francisco posted the highest increases in ADR (+6.0% to $225.82) and RevPAR
(+11.8% to $155.84), while St. Louis posted reported the largest gain in
occupancy (+6.5% to 61.7%).
Houston saw the steepest drop in occupancy (-8.6% to 58.9%).
Las Vegas registered the largest declines in ADR (-4.3% to $199.79) and RevPAR
(-10.9% to $149.13).