Weekly Hotel Performance Update – August 18 – 24, 2024

• San Diego hotels had a relatively good week last week as the summer season ends and the shoulder season begins.
• County properties sold 357,065 room nights, reflecting a rare uptick in the second half of August. The total represents 6,000 more room nights than the week prior and puts room demand on par with 2019 and about 30,000 higher than the same week in 2023.
• County occupancy averaged 79.0%, but most regions in the City of San Diego saw occupancies above that.
  • San Diego ranked 6^th among the top 25 and 2^nd in the western comp set behind Seattle (80.8%). The top 3 markets last week were New York (85.2%), Boston (82.7%), and Oahu (81.4%).
  • Mission Bay continued to lead the region at 84.1%, followed closely by Pt. Loma – Airport (84.0%) and then Mission Valley (82.1%).
• Hotels continued to hold onto rate, a positive sign that people find good value in the money they spend to stay here. At $217, ADR essentially matched that of the same week in 2023. San Diego ranked 4^th among the top 25 and 1^st in the comp set.
• The convention center hosted one smaller event last week, contributing a few thousand room nights. All in, upscale+ properties sold 36,242 Group room nights, about 5,000 fewer than last year, at and ADR of $277.

View the complete hotel performance report here.