Hotels Near Orange County's John Wayne Airport See Higher Room Rates Rise Due to Increased Occupancy
Jonathan Lansner | The Orange County Register | July 13, 2018 1:59pm
July 12--Hotels near John Wayne Airport saw room rates go higher year-to-date through May as occupancy increased, a new report shows.
Here are eight trends to know from CBRE Hotels' latest reports on how local operators are doing filling up their rooms vs. countywide patterns year-to-date through May ...
1. Airport area hotels charged an average $143.93 per night, an increase of $1.32 in a year or 0.9 percent.
2. Among seven Orange County regions tracked by CBRE, the John Wayne market ranked No. 6 priciest.
3. Countywide, room rates averaged $191.36 per night, up $7.14 in a year or 3.9 percent.
4. John Wayne market hotels in 2018's first five months were 77.3 percent full, up from 75.8 percent a year earlier.
5. The airport area ranked No. 5 among seven Orange County hotel districts in terms of hardest to find an empty room.
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6. Countywide occupancy was 79.5 percent, up from 79.3 percent a year earlier.
7. A key measure of hotel cash flow known as "RevPar" for the airport area increased 2.9 percent from a year earlier.
8. Countywide RevPar was up 4.1 percent in a year.
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