- Summer has officially begun in San Diego with hotel demand rising sharply this week. County hotels sold 40,000 more room nights than the previous week for a total of 371,537 room nights sold. This spike in demand mirrors that of every pre-covid year in the week following the Memorial Day holiday.
- County occupancy rose significantly, up 9 points over the prior week to reach 82.5%. However, San Diego is not the only western market experiencing an early summer surge. San Diego ranked 4th in occupancy among top markets (down from 2nd) but 3rd in the western competitive set (down from 1st), behind Seattle (85.2%) and San Francisco (84.3%). Seattle, New York and San Francisco were the top three markets in the nation this week.
- With increased demand, average rates also grew to $217, up $8 from last week. San Diego ranked 5th in the nation (up from 6th) and 2nd in the western set (unchanged).
- The combined increase in occupancy and ADR resulted in a $25 increase in RevPAR which averaged $179 for the week. This high rate is historically seen in the middle of summer, so this is a welcome sign so early in the season. San Diego’s RevPAR was 5th in the nation.
- Just about every region in the County saw Saturday night occupancy above 90%. Properties in UTC and South/East County had the highest average occupancy for the week, at 87.4% and 86.3% respectively.
- La Jolla Coastal properties had average rates above $400 for Friday and Saturday night. La Jolla’s weekly average of $349 is the highest it has ever been, beating historic norms for the area.
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