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Weekly Hotel Performance Update – July 14-20, 2024

July 25, 2024 By SDTA Staff Leave a Comment

  • San Diego hotels experienced a significant increase in business last week, recovering from a slower period the previous week. This boost was largely due to the ESRI conference held at the convention center.
  • Hotels in the county sold 417,200 room nights last week, which is 32,000 more than the same week in 2023 and 22,000 more than in 2019. However, comparing this year to last year isn’t entirely accurate because the ESRI conference, which contributed about 25,000 room nights, was held a week later this year. Therefore, last week’s demand was similar to the corresponding week in 2023 when the ESRI conference was also in town.
  • Occupancy rates surged to 92.3%, the highest among the 25 largest markets and far surpassing other western markets. The top markets last week were San Diego (92.3%), New York (89.8%), and Boston (89.6%). In the western region, Seattle was a distant second at 86.8%, followed by Orange County at 83.7%.
  • Within San Diego, Downtown had the highest occupancy at 96.0%, followed by the I-15 Corridor at 94.0%. Mission Valley and Pt. Loma – Airport regions tied for third at 93.6%.
  • Every region in the county had occupancy rates of 90% or higher, except for Del Mar/Oceanside, which still had a solid rate of 89.0%.
  • The average daily rate (ADR) increased by $42 from the previous week, reaching $280, which is similar to the rate during the same week in 2023 and the third highest among the top 25 markets. Revenue per available room (RevPAR) was $259, the second highest among the top 25, and about $63 higher than Seattle, which was in second place.
  • As mentioned, the ESRI conference was a major event. In total, upscale and higher-end properties sold 54,762 group room nights at an average nightly rate of $303.

View the complete hotel performance report here.

Filed Under: Industry Trends, Meetings in San Diego, What's New Tagged With: ADR, data, Hotels, meetings, san diego, travel

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