OC Hotels See 6.1% Jump in Room RatesMonday, September 10, 2012
Orange County hotels saw the market’s average room rate rise even as the occupancy level dipped slightly during July, the most recent data available from PKF Consulting USA.
The average daily room rate increased 6.1% in July from a year ago, to $168.52.
Hotels in the Huntington Beach market had the highest average room rate and the largest increase, with a 9.2% gain to $293.29.
The average occupancy rate fell by 0.8% countywide, to 88.29% for July.
The Anaheim market had the highest occupancy level locally at 91.42%, up 1.1% from a year earlier.
Anaheim also had the highest revenue per available room, a key industry measure of hotels’ financial performance, up 8.7% to $142.16.
Revenue per available room increased 5.3% countywide, to $148.78.