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Weekly Hotel Performance Update – October 20 – 26, 2024

November 1, 2024 By SDTA Staff Leave a Comment

Hotel performance continues to bounce around week by week, though last week saw notable gains, making it one of the strongest weeks compared to the same period in 2023.

• Occupancy: San Diego’s occupancy rate reached 79.1%, a +7.8% increase year-over-year. San Diego ranked 7th among the top 25 U.S. markets, following leaders New York (92.7%), Boston (89.8%), and Tampa (84.2%). In the Western competitive set, San Diego ranked 2nd, just behind Los Angeles (80.8%) and ahead of Phoenix (78.2%).

  • Local Performance: Top-performing areas included the I-15 Corridor at 87.5%, UTC at 84.7%, and Mission Valley at 84.0%. All three are hotspots for business meetings and events. The I-15 Corridor, UTC, and Downtown reached over 90% occupancy midweek, reflecting strong Group demand (see below).

• Room Nights Sold: San Diego hotels sold 357,736 room nights last week, approximately 27,000 more than the same week in 2023.

• ADR: The average daily rate was $222, marking a +10.6% YOY increase.

• RevPAR: RevPAR reached $175, positioning San Diego 6th in the top 25 and leading the Western competitive set.

• Group Performance: Group occupancy stood at 41.4%, a 20.6% YOY increase, with an ADR of $303 (+8.0% YOY). Luxury rooms sold totaled around 79,000, approximately 13,500 more than the same week in 2023.

• Convention Activity: Last week, several key events at the convention center – including Informa Tech Holdings, the American Society of Nephrology, the American Institute of Chemical Engineers, and the American Academy of Periodontology – collectively contributed about 42,000 room nights to the market.

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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