OC Hotels See Rates, Occupancy Levels Rise in AugustFriday, October 5, 2012
The average daily rate for Orange County hotels rose along with bookings in August.
The average daily rate was up 7% from a year earlier, to $167.32 in August, the latest data available from industry researcher PKF Consulting USA.
The average daily room rate surged in Huntington Beach during the month, with a 16.6% increase to $294.12, which was the largest jump in the OC market. South County hotels’ overall average daily rate rose 5.3% to $260.09, while North County saw rates rise 3.5% to $94.29.
The rising daily rates reflect an increase in demand for hotel rooms here in August,
Orange County’s occupancy level increased 2.8% from a year earlier, to 82.14% in August.
North Orange County had the highest occupancy rate, up 2.7% to 83.49%.
The occupancy level fell 4.2% in Costa Mesa and 4.6% in Huntington Beach to 78.5% and 81.72%, respectively.
Anaheim and Newport Beach saw the greatest jumps in revenue per available room, a key industry measure of hotels’ financial performance, with both up 14.6%. Anaheim’s revenue per available room was $126.84, while Newport Beach’s was $201.85.
Overall revenue per available room for Orange County in August was $137.43, up 10% from a year earlier.