Weekly Hotel Performance Update – August 25 – 31, 2024

• Performance heading into the long Labor Day weekend was as expected and right on top of the trends seen over the past several years.
• Occupancy cooled to a seasonal norm of 72.7% last week.
  • UTC led the way at 77.0% followed by the I-15 Corridor (76.5%) then La Jolla (76.1%).
  • San Diego ranked 7^th among the top 25 and 2^nd in the western comp set behind Seattle (81.7%). The top 3 markets were New York (88.6%), Boston (83.7%), and Seattle.
  • Despite a relatively tepid weekly average for occupancy, every region in the county experienced occupancy above 96% on Saturday night as the holiday weekend kicked into high gear.
• The Convention Center hosted one primary event last week, contributing around 9,500 room nights. Upscale+ properties sold 31,136 room nights—about 8,000 fewer than last year—at and ADR of $279.

View the complete hotel performance report here.