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Local Hotel Revenue Up 3.5 Percent in First Seven Months of 2016

San Diego County hotel revenue rose 3.5 percent from a year ago, topping $1.6 billion for the first seven months of 2016, even as occupancy dipped 0.4 percent to 78.4 percent, according to the latest monthly data from research firm STR.

The local region registered year-over-year increases in all other key metrics for the January-to-July period, with the average daily room rate at $157.67 (up 2.4 percent); revenue per available room at $123.58 (up 2 percent); total hotel room supply at more than 12.9 million (up 1.5 percent); and total room nights booked at more than 10.1 million (up 1.1 percent).

For U.S. hotels overall, total revenue rose 4.6 percent from a year ago in the first seven months, to more than $87.5 billion. Occupancy was 66.4 percent (down 0.1 percent), with the average daily rate at $123.93 (up 3.2 percent); revenue per available room at $82.33 (up 3 percent); room supply at 1.06 billion (up 1.5 percent); and room nights booked at 706.8 million (up 1.4 percent).

For the month of July, San Diego County occupancy was 87.5 percent (up 1.1 percent from July 2015); average daily rate was $195.33 (up 2.9 percent); revenue per available room was $170.71 (up 4.1 percent); room supply was 1.9 million (up 1.7 percent) and room nights booked topped 1.6 million (up 2.8 percent).

Total July revenue for local hotels rose 5.8 percent from a year ago, to more than $326.2 million. So far in 2016, July is the local region’s strongest month for all hotel metrics, and the month has generally been the region’s strongest for the past several years.

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