- The San Diego Convention Center welcomed back one of its largest events last week, ESRI, with an estimated 30,000 blocked room nights spread over four nights. As a result, Group occupancy among upscale+ properties averaged 33.2% for the week with an ADR of $276. Compared to the same week in 2019, group demand was roughly 15,000 room nights stronger this year with an average occupancy about 5 points higher. The center was closed during this time last year.
- Room demand for the entire county surged from the previous week, rising by nearly 60,000 room nights to reach a total of 404,630 RNs sold this week. This week’s strong demand is about 3% higher than same week in 2019 and 15% higher than 2021, and just shy of the weekly record of 405.1K RNs sold set in July 2018.
- County occupancy averaged 89.9% for the week, ranking San Diego 1st in both the nation and western competitive set. This is a 10 point rise in occupancy over the same week in 2021 and the highest county occupancy since the week of June 9, 2019. The top three markets this week were San Diego, Oahu Island and Seattle.
- Several regions in the county had average occupancies above 90% for the week – Downtown averaged 93.4%, Mission Valley at 92.6%, and UTC at 90.7%, among others.
- City of San Diego properties were nearly completely sold out Saturday night with occupancy reaching 94.2%.
- Average rates also saw a significant increase, up $10 from the week prior to reach $257, smashing the ADR record set last week. This is a whopping $53 increase from the same week in 2019 and $40 higher than 2021. San Diego ranked 3rd in the nation 1st in the western comp set.
- Coastal regions in San Diego continue to see rates at or above $400, with La Jolla properties averaging at $404 and Mission Bay at $392 this week.
- This stellar performance in both occupancy and ADR inflated the weekly RevPAR to $231, a $42 improvement from the previous week. This is the highest weekly RevPAR in San Diego’s history and ranked the county 2nd in the nation, behind only Oahu Island at $269.
- Both La Jolla and Mission Bay had RevPAR above $350 this week, at $358 and $351 respectively.
- Among upscale+ properties, transient occupancy was 52.6%, noticeably lower than the 65.3% in 2021 and 59.9% in 2019. However, this week’s transient ADR of $386 is about $60 higher than the same week in 2021 ($325) and more than $100 higher than 2019 ($280).
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