In the past 12 months, the hospitality market in New Orleans has seen average daily rates or ADR, increase for overnight hotel stays. Compared to the trailing 12-month average for March 2022, rates have increased by 22% through March 2023. According to STR, CoStar's hospitality analytics firm, New Orleans ranks near the top for the highest ADR among the top 25 best-performing U.S. markets.