March delivered a much-welcome boost to hotel performance after a sluggish start to 2024. Data from Smith Travel Research (STR) indicates that San Diego County properties sold more than 1.5 million room nights in March 2024, a 2.3% increase over March 2023 and enough to draw in more than $316 million in hotel revenues. However, this uptick was not enough to undo the constant … [Read more...] about Slow Start to 2024 Yields Modest Lodging Forecast Downgrades
San Diego Price Check: ADR and Occupancy Flip Flop
In the wake of the pandemic, travelers to San Diego have become increasingly price-sensitive, leading to significant shifts in the dynamics of hotel pricing and occupancy across the region. Previously, higher occupancy rates typically correlated with rising average daily rates (ADR), reflecting a phenomenon known as compression as high demand drove rates. However, in 2022 and … [Read more...] about San Diego Price Check: ADR and Occupancy Flip Flop
Research Report: 2023 in Review and What Could Be in Store for ‘24
Following the pandemic, travel seemed to undergo a fundamental shift with the rise of “revenge travel” and the emergence of the digital nomad who could take advantage of traveling without having to take time off from work. In 2022, overnight travel was certainly “vengeful,” with hotel visitors staying an average of four (4) nights and short-term vacation rental (STVR) … [Read more...] about Research Report: 2023 in Review and What Could Be in Store for ‘24
Cool Reception: Weird weather weighs on tourism
Uncharacteristically, weather has worked against San Diego tourism for the majority of 2023. January and February each saw a big boost to hotel room night demand, but only because the Omicron variant wasn’t in the picture to derail travel in 2023 (as it did in early 2022). Average high temperatures have consistently run below average throughout the year, dragging hotel room … [Read more...] about Cool Reception: Weird weather weighs on tourism
A Look into San Diego’s 2023 Lodging Performance and Forecasts
Recent Performance Lodging performance has been a mixed bag so far in 2023. After a strong January and February, room night demand has drifted modestly below 2022 and 2019 levels since the first week of March. Earlier in the recovery, slower room night sales were attributable entirely to weaker corporate and international travel, while domestic leisure travel led the … [Read more...] about A Look into San Diego’s 2023 Lodging Performance and Forecasts