- Hotel demand fell dramatically, but predictably, throughout the nation last week as many leisure travelers stayed with friends and family, and almost all Group business paused for the Thanksgiving holiday. Hotel demand in San Diego County eased to 257,155 room nights sold last week, almost identical to demand in the same week of 2022 and only slightly below demand for Thanksgiving week in 2019.
- Hotel occupancy averaged 57% in San Diego last week with most regions in the county averaging below 50% in the first half of the week and rising to the mid-60s to high-70s by Friday evening. Though San Diego saw a large decrease in average occupancy w/w, so did the rest of the country, placing San Diego relatively high at 7th in the nation and 3rd in the western competitive set, behind Orange County at 63.4% and Los Angeles at 59.4%.
- Group demand fell as expected over the holiday week with upscale+ hotels selling 10,001 RNs, averaging 5.2% Group occupancy with rates at $210.
- Average rates throughout the county fell to their lowest point since the early weeks of 2023, dropping to $173 last week. But, again, the rest of the nation’s top destinations also saw declines in ADR so San Diego remained highly ranked, at 6th among top 25 markets and 2nd in the western comp set. Orange County pulled ahead at $205 for the week, while Los Angeles was slightly below SD at $171.
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