San Diego Business Journal

Local Hotel Revenue Rose 4.4 Percent in First 11 Months

By Lou Hirsh Thursday, December 29, 2016
   

Total revenue at San Diego County hotels rose 4.4 percent from a year ago in the first 11 months of 2016, topping $2.48 billion, according to the latest monthly data from research firm STR.

The local region posted increases on all major metrics for the January-to-November period, with occupancy at 78.1 percent (up 0.6 percent) and the average daily room rate at $156.35 (up 2.3 percent). Revenue per available room (RevPAR) rose 2.9 percent from a year ago, to $122.07.

Room-night supply for the 11-month period was up 1.4 percent, at more than 20.3 million, and room-night demand (nights booked) increased 2.1 percent, to more than 15.8 million.

The San Diego region continued to benefit from a generally strong national economy for hotels, with U.S. revenue rising 4.9 percent for the January-to-November period, to $139.3 billion.

For the month of November, STR reported San Diego County’s occupancy at 70.7 percent, up 4.9 percent from a year ago, with an average daily rate of $142.20 (up 2.9 percent). The region’s RevPAR rose 7.9 percent, to $100.53.

Room supply in November was up 1.2 percent, at more than 1.83 million, while demand rose 6.1 percent, to more than 1.29 million.