- Hotel demand dipped slightly last week compared to the previous week with San Diego County selling a total of 319,588 room nights, down 16,000 w/w. However, this dip is to be expected in the week after the Memorial Day holiday and if historical patterns persist, should be the calm before the storm that is the summer leisure travel season. Last week’s demand saw about 10,000 fewer room nights sold than the same week in 2022 but roughly 20,000 more than in 2019.
- County occupancy averaged 71.0%, and although last week’s average was 3.6 points lower than the previous week, San Diego rose in national rankings from 6th to 4th and remains 1st in the western competitive set. The top three markets were New York (80.2%), Oahu Island (76.1%) and Boston (74.0%), with the rest of the major destinations averaging in the low-to-mid 60s.
- Mission Valley properties had the highest average occupancy within the City of San Diego at 75.1%, followed by Pt. Loma/Airport hotels and UTC hotels tied at 72.4%.
- The convention center had one smaller event move in during this time, contributing about 3,800 RNs. Overall, Group demand among upscale+ hotels softened w/w to total 35,330 RNs sold with an average occupancy of 18.6%, peaking on Thursday at 27.1%, and averaging a $269 rate. Group demand was down about 3,000 RNs compared to the same week last year but up significantly compared to 2019.
- Rates averaged $206 for the week, placing San Diego ahead of all other California markets with Orange County at $204, Los Angeles at $187 and San Francisco at $182. Weekly ADR has been perfectly in line with rates paid this time last year for the last four weeks.
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