- San Diego hotels sold 238,562 room nights in the first week of 2024, with New Year’s Eve (Sunday) being the strongest night of the week at close to 50,000 RNs. Last week’s demand was slightly stronger than the same week last year when only 224.5K RNs were sold.
- Hotel occupancy averaged 52.8% for the week with Sunday night starting the week in the mid-70s to low-80s for some regions, and Saturday ending the week in the low-to-mid 50s. San Diego dropped in national rankings from 6th place the week prior to land at 10th last week, below Orange County (62.6%), Los Angeles (62.0%) and Phoenix (55.4%). The top markets in the country remain Oahu Island (79.1%), Miami (75.7%) and New York (72.9%).
- The much-anticipated PCMA event, Convening Leaders 2024, began to move into the convention center during this week, contributing about 2,400 RNs to total demand (though the event wouldn’t officially begin until Sunday the 7th). All counted, Group demand came to 12,129 RNs sold with an average occupancy of 6.3% and rates at $225. This was a bit lower than the Group performance in the first week of years’ past when occupancy was typically between 8 and 11%.
- Total market ADR dipped to $167, on par with rates at this time last year.
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