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Weekly Hotel Performance Update – September 8 – 14, 2024

September 19, 2024 By SDTA Staff Leave a Comment

  • Strong rebound: San Diego hotels had a solid week, bouncing back from the post-Labor Day slump.
  • Room nights sold: Countywide, 360,970 room nights were sold—a 48,000 increase from the previous week. This matches 2019’s figures and is 35,000 more than the same week last year.
  • Occupancy: The average occupancy was 79.9%, up 10.5% year-over-year and ranking us 5th among the top 25 markets and 3rd in the western competitive set, behind Orange County and Seattle (both at 83.4%). Much of last week’s strength is attributable to a 10.4% year-over-year rise in Group occupancy (more on that below).
  • More info on Seattle and OC: Seattle’s performance may be driven by an attractive ADR and seasonal factors like changing leaves, though no major events were reported. I’m waiting for more info from my Orange County contact and will share updates once I have them.
  • Top 3 markets last week: New York (86.1%), Orange County, and Seattle.
  • Local performance: Mission Valley led with 85.9% occupancy, boosted by a mid-week surge, followed by Downtown and Mission Bay at 83.8%.
  • ADR: The average daily rate (ADR) was $214, up $25 from the same week last year. It’s good news that hotels are maintaining rates despite rising business and labor costs. San Diego remains a relatively good value compared to other major hotel markets.
  • Convention activity: The convention center hosted two smaller events, generating around 12,700 room nights between Sunday and Thursday. In total, upscale+ hotels sold 63,469 room nights, about 7,000 more than last year, with notable mid-week strength in Mission Valley and UTC, where occupancy hovered near or above 90%.
  • Group performance: Group occupancy was 33.4%, with an ADR of $306.

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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