Hotel room night production across the county continues to track essentially flat year-over-year since the beginning of June. Typical for the week after July 4th, room demand slipped somewhat but not any more than in prior years. However, despite room night demand essentially matching the same week last year, the new supply brought on by Gaylord means occupancy was lower this year. ADR also lost some ground compared with last year but remains strong compared with other major markets across the U.S.
- Room Nights Sold: San Diego County hotels sold 354,111 room nights, 4,000 fewer—or statistically flat—YoY.
- Occupancy: The average occupancy rate was 76.1% (-3.9% YoY), ranking 7th among the top 25 U.S. markets and 3rd within the Western competitive set.
- Top 3 U.S. Markets: Seattle (85.3%), New York (84.0%), and Saint Louis (81.3%). Seattle was aided by two back-to-back conferences last week.
- Top 3 Submarkets: I-15 Corridor (82.8%), Pt. Loma (82.2%), UTC (81.6%).
- ADR averaged $230, -3.3% YoY, and RevPAR was $175, down 6.9% YoY.
- Despite the YoY drop, ADR was the 3rd highest among the top 25 markets behind Oahu ($303) and New York ($284).
- ESRI commenced last week at the San Diego Convention Center, contributing 3,478 room nights to the market. The event continues into this week and is expected to bring another 32K to the market.
- Total Group at Upscale+ Properties:
- Group Room Nights Sold: 35,693 (+7,943 YoY)
- Group ADR: $290 (-3.7% YoY)
- Group RevPAR: $50 (+8.4% YoY)
View the complete hotel performance report here.
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