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Weekly Hotel Performance Update – October 27 – November 2, 2024

November 7, 2024 By SDTA Staff Leave a Comment

San Diego County maintained a stable position in 5th place among the Top 25 U.S. Markets and ranked 1st in the Western Competitive Set across all key performance metrics. With October now complete, we are tracking within 10,000 room nights of the 2024 forecast, with the expectation that this November will outperform 2023, when an uncharacteristic slump affected demand.

Occupancy
San Diego County’s average occupancy reached 73.0% last week, representing a 16.4% year-over-year (YoY) increase.

  • Top Occupancy Performers in the Top 25 U.S. Markets:
    New York (90.2%), Tampa (80.5%), and New Orleans (76.3%)—with New Orleans benefiting from major events, including Zydeco Fest and The Delondes concert, which significantly boosted occupancy.
  • Top Occupancy Performers in the Western Competitive Set:
    San Diego (73.0%), Los Angeles (70.1%), and Phoenix (69.6%).
  • Local Performance:
    UTC led with an occupancy rate of 82.4%, followed by Downtown at 81.6% and Mission Valley at 75.0%.

Demand
Last week, San Diego sold 357,736 room nights, approximately 47,000 more than during the same period last year.

ADR & RevPAR

  • ADR: San Diego County’s ADR reached $210, marking a 15.4% YoY increase.
  • RevPAR: RevPAR came in at $153, reflecting a substantial 31.8% YoY increase.

Group Performance and Convention Activity
Group occupancy was 29.5% last week, a 27.8% YoY increase, with an ADR for group bookings at $304, up by 15.4% YoY. Luxury and upscale properties sold 56,155 group room nights, an increase of 12,100 from the same week in 2023. Events at the San Diego Convention Center played a role in boosting performance, with the American Society of Nephrology, the American Institute of Chemical Engineers, and the American Academy of Periodontology collectively contributing approximately 13,000 room nights.

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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