New York City and Washington, D.C. among top performing U.S. markets in 2023

Analysis by M. Brian Riley

In 2023, many key U.S. hotel markets caught up on recovery that was held back due to a lack of business travel. That is why markets like New York City and Washington, D.C., were atop the 2023 performance list, while growth leaders from previous years were more grounded due to diminished leisure travel.

A sign of the unusual nature of previous years, a large proportion of both the fastest and slowest recovering markets from early in the pandemic reversed course in…