HB Hotel Market Sees Big September GainsFriday, November 1, 2013
Huntington Beach hotels had the strongest performance in September based on three key industry measures, according to the latest report from industry researcher PKF Consulting USA.
Huntington Beach saw its September occupancy rate rise the most of any other OC hotel market, up 13.1% from a year earlier to nearly 86.1%.
The Costa Mesa hotel submarket came in second with occupancy during the month, up 12.6% to about 79.4%.
Orange County hotels overall saw occupancy remain relatively flat, nudging up 0.2% to 72%.
The average daily rate countywide rose 5.8% in September to $155.39.
The average daily rate among Huntington Beach hotels jumped 27.1% to $268.65, while revenue per available room—a key industry measure multiplying occupancy by the average daily rate—surged 43.7% to $231.29.
That compares to a countywide gain of 5.9% to $111.91.