San Diego Hotel Revenue Grows 4.1 Percent in First 10 Months

San Diego County hotels posted a 4.1 percent gain in revenue in the first 10 months of 2016, topping $2.29 billion, with year-over-year increases on most key metrics, according to the latest monthly data from research firm STR.

Occupancy for the January-to-October period was 78.8 percent (up 0.3 percent), the average daily room rate was $157.62 (up 2.3 percent) and revenue per available room (RevPAR) was $124.21 (up 2.6 percent).

STR reported that the region’s room-night supply for the 10-month period was up 1.5 percent from a year ago, at more than 18.4 million; and demand rose 1.7 percent, with more than 14.5 million room-nights booked.

So far, 2016 continues to trend ahead of 2015 for local year-to-date metrics, despite slight declines posted for the month of October on some measures. The month’s occupancy rate was 76.9 percent, down 1.4 percent from October 2015, the average room rate was $148.63 (down 1.1 percent), and RevPAR was $114.30 (down 2.4 percent).

Local hotels’ room-night supply for October rose 1.7 percent, to just under 1.9 million, and room nights booked rose 0.3 percent, to 1.5 million. Despite those increases, total revenue for the month slipped 0.8 percent, to $216.3 million.

The San Diego region continued to track ahead of U.S. figures on most October and year-to-date metrics. The nationwide occupancy rate was 67.3 percent year-to-date, with an average daily rate of $124.77 and RevPAR of $83.92.

Hotels nationwide posted total revenue growth of 4.6 percent for the 10-month period, topping $128.3 billion, STR reported.

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