Weekly Hotel Performance (Nov 29-Dec 5, 2020)

Weekly Hotel Performance – Nov 29-Dec 5, 2020

• Room demand fell by roughly 16,000 from the Thanksgiving holiday, to total 170,000 room nights sold this week.
• Despite the overall drop in demand in the county, properties located in Pt. Loma/Airport, I-15 Corridor, Northeast/Escondido, and South/East County increased demand over previous week.
• Thursday night was the best performing night throughout the county, selling 26,511 room nights and had the highest occupancy (66.7%) in the South/East County area.
• County occupancy for the week fell to 38.4% ranking San Diego 8^th among top 25 markets and 3^rd in the western competitive set (behind Phoenix 44.0% and Los Angeles 39.7%). 
• South/East County properties continue to have the highest occupancy at 62.5%, followed by Northeast/Escondido at 51.6%, and Pt. Loma/Airport at 46.2%.
• County ADR dropped to $101 ranking San Diego 7^th among top markets and 4^th in the western comp set (behind Los Angeles $113, San Francisco $108, and Anaheim $104).
• La Jolla properties continue to garner the highest ADR at $187, followed by Mission Bay at $125, and now UTC at $115.
• RevPAR reduced to $39 this week ranking San Diego 6^th among top markets and 3^rd in the western comp set (behind Los Angeles $45 and Phoenix $41).