Sustained bad
news for the hotel industry is
finally giving way to much rosier forecasts for the year ahead, as
hotels both locally and nationally can expect growth in overall revenues, as well as the all-important
room rate, according to a new report from PKF Hospitality Research.
While continued discounting as a way to fill empty hotel
rooms led to a more than 2 percent
decline in the average room rate last year in San Diego County, that’s expected to
reverse course this year with a more than 5 percent increase, PKF
reports.
With hotel occupancies also on the rise, San Diego
County properties can expect an 8.3 percent increase this year in
revenues per available room, the industry barometer for measuring a
hotel’s financial health. That’s a bit better than the 7.1 percent
growth expected for the nation as a whole.
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Upper-end hotels, like The Hotel del Coronado, are expected to see
healthier revenues this year than their lower-tier counterparts
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