OC Hotel Rates Rise 9%Monday, December 10, 2012
Orange County hotels saw the average daily room rate rise 9% in October, the most recent data available from PKF Consulting USA.
The countywide average daily rate stood at $153.06 in October.
The Anaheim market saw the largest increase in its average daily room rate, up 11.9% from a year earlier to $155.48.
Revenue per available room, a key industry measure of hotels’ financial performance, jumped 16.8% to $120.89 for the county.
The Newport Beach hotel market led the surge with a 20.8% increase in revenue per available room to $149.23.
OC’s overall occupancy rate rose 7.2% to 78.98%.
Costa Mesa’s occupancy rate grew the most during the month with a 12.2% increase to 78.26%.