Growth Trend Continues for OC HotelsMonday, July 15, 2013
Orange County hotel rates and occupancy levels continued their rise in May.
The average daily room rate rose 6.3% to $150.66, according to the latest data available from industry researcher PKF Consulting USA.
Hotels in Newport Beach saw the largest bump in average daily rates, or 11.6% to $216.19.
Meantime, revenue per available room—a key industry measure of hotels’ financial performance—increased 10.3% to $113.16.
Anaheim hotels saw the largest revenue per available room increase of any market in May, up 13.3% to $110.22.
Hotels’ occupancy levels bumped up 3.7% to 75.11%.
Hotels in Costa Mesa saw the largest percentage gain in occupancy, up 10.6% to 83.18%. The Costa Mesa market also had the highest occupancy level for the month.