Room Demand: 349,457 room nights (+14.8% YoY).
· Occupancy: 74.6% (+11.5% YoY); 3rd amongst the top 25 U.S. markets and 1st in the western competitive set.
o Top Performing US Markets: New York (87.1%; -3.1% YoY), Miami (83.1%; +1.8%), and San Diego.
o Top Performing Western Competitive Markets: San Diego, Orange County (72.2%; +2.7% YoY), and Phoenix (71.4%; +2.7% YoY).
o Highest Performing Areas Locally: Downtown (83.5%; +38.4% YoY), Pt. Loma (81%; +15.3% YoY), and I-15 Corridor (77.7%; +0.7% YoY).
· ADR: $197.42 (-7.6% YoY).
· RevPAR: $147.30 (+2.9% YoY).
· Group Performance (Upscale+ Properties) and Convention Activity:
Room Demand: 65,423 group room nights (+3.4% YoY).
Occupancy: 31.5% (-4.8% YoY).
ADR: $263.48 (-10.7% YoY).
RevPAR: $83.09 (-15% YoY).
- Convention Center Activity: Two events were held at the convention center last week, contributing 35,187 rooms to the market.
- NeurIPS was in town last week:
- 25,000 in-person attendees
- 12% local/drive-in
- 22,000 out-of-town visitors yet just 5,500 rooms contracted each night, implying larger-than-usual around-the-block bookings and providing a large transient lift in the DT market—a trend borne out by the data.
- NeurIPS was in town last week:
View the complete hotel performance report here.
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