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Weekly Hotel Performance Update – October 13 – 19, 2024

October 24, 2024 By SDTA Staff Leave a Comment

Hotel performance continues to fluctuate week to week. After a couple of disappointing weeks to start October, last week saw an improvement, marking the first time since late September that performance exceeded the same week in 2023.

  • Room Nights Sold: San Diego hotels sold 362,325 room nights across the county last week, about 11,500 more than the same week in 2023. However, we’re still 70,000 to 80,000 room nights short of the forecast for 17.4 million room nights in 2024. The hope is that the gap will be closed in November, which was notably weak in 2023.
  • Occupancy: Average occupancy was 80.1%, placing San Diego 5th among the top 25 markets and 1st in the western competitive set, ahead of Los Angeles (78.0%) and San Francisco (75.7%).
    • Top 3 markets: New York (93.7%), Boston (88.0%), and Tampa (83.7%).
    • Local performance: The I-15 Corridor led the way with 87.4% occupancy, driven by strong midweek demand. Occupancy in that subregion was at or above 90% from Wednesday through Saturday. Point Loma – Airport (86.2%) and Mission Valley (84.5%) followed closely behind.
  • ADR: The average daily rate was $216, a $5 increase compared to 2023. RevPAR came in at $173, putting San Diego at the top of the western comp set, ahead of San Francisco ($167) and Los Angeles ($165).
  • Convention Activity: The Autodesk conference at the convention center was in full swing, contributing 30,000 room nights to the market. Upscale+ properties sold 72,696 Group room nights at an ADR of $298, both in line with performance during the same week last year.

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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