San Diego’s hotel performance continues to show resilience as we near the end of 2024. Last week, the American Society of Hematologists (ASH) held its event in town, contributing approximately 56,000 room nights—a significant boost, particularly later in the week and into the weekend. Moreover, the conference lasted into early this week, contributing an expected 40,000 additional room nights that will show up in the data we receive next week.
Countywide, hotel properties sold 304,351 room nights, about 15,000 fewer than the same week in 2023 but generally in line with expectations. Occupancy averaged 66.9%, climbing from the mid-30s on Sunday night to well above 90% on Friday and Saturday nights. This pattern was consistent across the county, with even outlying regions like La Jolla and Del Mar/Oceanside surpassing 80% occupancy on the weekend.
However, as is typical for this time of year, San Diego slipped in the national rankings, landing 10th among the top 25 markets for occupancy and 3rd in the Western competitive set behind Orange County (70.3%) and Phoenix (69.5%). The top-performing U.S. markets last week were New York (89.9%), Tampa (83.3%), and Miami (81.6%).
Interestingly, despite ASH being hosted at the Convention Center, the I-15 Corridor saw the highest occupancy at 77.1%, followed closely by UTC (76.7%) and Point Loma–Airport (70.2%).
On a positive note, the presence of such a large event allowed hotels to maintain strong rates. ADR last week averaged $214, about $10 higher than the same week in 2023.
Beyond ASH, upscale-plus properties sold a total of 63,235 group room nights—nearly 5,000 fewer than in 2023—at an ADR of $295. As we approach year-end, we’re now within 0.3% of hitting the 2024 room night demand forecast of 17.4 million.
View the complete hotel performance report here.
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