Hotel market fundamentals continued to climb in August, according to the most recent data available from industry researcher PKF Consulting USA.
OC hotels notched gains in three key areas:
Revenue per available room—a measure that multiplies occupancy by the average daily rate—surged in August 13.5% countywide to $153.01.
The Costa Mesa submarket saw the largest jump, up 21.3% from a year earlier to $117.17. The city also reported the largest gain in occupancy, up 13.3% to 89.98%.
The countywide occupancy level rose 4.2% to 85.43%.
OC hotels also saw their average daily room rates up 8.9% from a year ago to $179.10.
Newport Beach saw the most growth in average daily rates, up 16.9% form a year earlier to $284.63.