- As expected, hotel demand throughout San Diego County rebounded last week from the low demand recorded the previous week, gaining nearly 36,000 room nights week over week to settle at 318,841 total RNs sold. Despite the sharp increase, last week’s demand fell short of previous years’ demand, with 2022 having sold 335K RNs and 2019 sold 354K during the same week.
- Countywide occupancy rose substantially w/w to average 70.6% last week, but San Diego still ranked lower among the top 25 markets – ranking 15th in the nation and last in the western competitive set. Phoenix led the west with 80.2% average occupancy (buoyed by abnormally strong Group demand), followed by Los Angeles at 75.1% and Seattle at 73.2%.
- Within the City of San Diego, properties in the UTC region had the highest occupancy at 80.9%, followed by I-15 Corridor hotels at 80.7% and Mission Valley a distant third at 73.9%.
- The convention center had one larger event move in last week, contributing about 18K RNs to total demand. Group demand among upscale+ hotels totaled 56,839 RNs sold with an average occupancy of 29.7% and rates at $281.
- With the rise in weekly demand, average rates also ticked upwards to settle at $196 last week. San Diego fell in the middle of the pack among western markets, though San Francisco was far ahead at $238, followed by Orange County at $210 and Los Angeles at $198.
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