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Data from the Orange County Visitors Association show increases in revenue per available room and room rates at local hotels this year.
OCVA said revenue per available room in Orange County would hit about $121 this year, up 7% from $113 in 2015, and that average daily rates would be about $155, up 7.4% from last year’s $144.
Occupancies are projected to dip by about half a point to 78.3% and available rooms to grow by 3.3% with the opening of several hotels this year, including Great Wolf Lodge in Garden Grove and Paséa Hotel & Spa in Huntington Beach.
The trends are forecasted to continue into next year, when revenue per available room and average daily rates should grow by 7.2% and 7.3%, respectively.
Irvine-based OCVA works from research by CBRE Hotels, formerly PKF Consulting, in Los Angeles.