Local hotels had higher average daily rates, occupancies, and revenue per available room in February, in both year-over-year numbers and compared with January, CBRE Hotels said. Most OC submarkets also increased.
County totals year-over-year showed ADR of $193.17, up 5.8%; occupancy of 80.4%, up 2.6%; and RevPAR of $155.31, up 8.6%.
CBRE Hotels tracks numbers in seven submarkets: Anaheim, Costa Mesa, the Airport area, North OC, South OC, Newport Beach, and Huntington Beach.
ADRs were up in all but two markets—Costa Mesa and the Airport; occupancy was up in all but two—North and South OC; RevPAR was up in all markets except Costa Mesa.
The highest average daily rate and RevPAR in February were in Newport Beach, at $277.65 and $229.91; the lowest were in North OC at $133.73 and $104.89.
The highest occupancy was in Anaheim, at 83.66%; the lowest in Huntington Beach at 68.36%.
Growth in the three metrics—ADR, occupancy, and RevPAR—from January to February was 4.9%, 2.2%, and 7.3%, respectively.