December and CY 2018 Hotel Performance

December Hotel Performance

• Occupancy
  • SD County occupancy was 67%, a 5% improvement over 2017
    • City of SD was 68.7%, a 7.1% increase from last year
    • Best performing regions were Pt. Loma Peninsula with 71.6% occupancy, and Downtown with 71.5%
  • San Diego’s occupancy in December ranked 8^th among top 25 markets, behind New York (86.9%), Oahu Island (81.4%), Miami (76%), Orlando (73.5%), Anaheim (72.1%), LA (70.5%), and San Francisco (70.3%)
• ADR
  • SD County ADR was $143.56, a 13.2% improvement from 2017
    • City of SD was $149.16, an 17.1% increase
  • San Diego’s ADR ranked 8^th among top 25 markets, behind New York ($305.32), Oahu Island ($271.24), Miami ($257.48), San Francisco ($191.51), LA ($163.97), Anaheim ($157.61), and Boston ($152.61)
• ASH Convention helped to drive the increases in both occupancy and ADR

Calendar Year 2018

• SD County occupancy through 2018 averaged 78.7%, up a full 2% from 2017
  • Group occupancy was up 2.1%, while Transient occupancy was down -0.9% from last year
  • Occupancy rates for all days of the week were up: Sun/Mon up 3%, Tues/Thur/Fri/Sat up 2%, and Wed up 1%
  • Regions leading the growth were Mission Valley (4%), Mission Bay and La Jolla (both 2.4%)
  • Phoenix (2.9%) was the only market in our western comp set that saw growth in occupancy – the rest of our competitors’ occupancy rates were in decline compared to 2017
• SD County ADR averaged $166.30, a 3.7% increase from last year
  • Transient ADR was up 4.6% and Group was up 1.3%
  • All days of the week had solid 3-4% growth
  • Regions leading ADR growth through 2018 were Mission Valley (4.6%), Pt. Loma Peninsula (4.3%), and La Jolla (3.8%)
  • All western comp set markets’ ADR had growth with San Francisco growing the most at 5.4% and Los Angeles growing the least at 2.2%

Closing out 2018, San Diego RevPAR growth was 5.8%, ranked 4^th among top 25 markets, and was the highest growth among the western comp set.

Source: STR