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COSTAR GROUP, INC.

(CSGP)
  Report
Delayed Nasdaq  -  04:00 2022-12-02 pm EST
83.46 USD   +0.61%
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STR: U.S. hotel performance for August 2022

09/21/2022 | 11:37am EST

HENDERSONVILLE, Tennessee - Following seasonal patterns, the U.S. hotel industry reported lower performance from the month prior, according to August 2022 data from STR.

August 2022 (percentage change from August 2019):

Occupancy: 66.5% (-6.7%)

Average daily rate (ADR): US$151.49 (+14.0%)

Revenue per available room (RevPAR): US$100.67 (+6.3%)

Among the Top 25 Markets, Oahu Island experienced the highest occupancy level (81.6%), which was down 8.3% from the market's 2019 benchmark.

Markets with the lowest occupancy for the month included New Orleans (47.3%) and Houston (55.3%).

New Orleans reported the steepest decline in occupancy when compared with 2019 (-21.9%).

Reflecting continued improvement in business travel and groups, the Top 25 Markets showed higher occupancy and ADR than all other markets.

A note to editors: All references to STR data and analysis should cite 'STR' as the source. Please refrain from citing 'STR, Inc.' 'Smith Travel Research' or 'STR Global' in sourcing.

Additional Performance Data

STR's world-leading hotel performance sample comprises 75,000 hotels and 10 million hotel rooms around the globe. Please refer to the contacts listed below for additional data requests.

About STR

STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.

Haley Luther

Communications Coordinator

+1 615 824 8664 ext. 3500

(C) 2022 Electronic News Publishing, source ENP Newswire

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Analyst Recommendations on COSTAR GROUP, INC.
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Financials (USD)
Sales 2022 2 178 M - -
Net income 2022 354 M - -
Net cash 2022 3 968 M - -
P/E ratio 2022 93,4x
Yield 2022 -
Capitalization 33 942 M 33 942 M -
EV / Sales 2022 13,8x
EV / Sales 2023 11,8x
Nbr of Employees 4 742
Free-Float 99,0%
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Technical analysis trends COSTAR GROUP, INC.
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 14
Last Close Price 83,46 $
Average target price 89,31 $
Spread / Average Target 7,01%
EPS Revisions
Managers and Directors
Andrew C. Florance President, Chief Executive Officer & Director
Scott T. Wheeler Chief Financial Officer
Michael R. Klein Chairman
Frank A. Simuro Chief Technology Officer
Jason Butler Chief Information Officer
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