June 10--Operators of Sacramento-area hotels saw a second consecutive month of year-over-year occupancy and per-room revenue improvements in March, according to the San Francisco office of hotel industry tracker PKF Consulting USA.
PKF said the average occupancy rate among area hotels in March was 74.2 percent, up from 70.9 percent in March 2013. The average daily room rate in March was $105.52, compared with $100.12 in March last year. Average revenue per available room in March was $78.34, up 10.3 percent from $71.03 in the year-ago period.
PKF said the average occupancy rate among area hotels in February was 70.2 percent, up from 66.7 percent in February 2013. This year's February and March numbers ran well ahead of January's average of 61.5 percent. Historically, January is a comparatively slow month for area hotels.
Hotel industry analysts say that 70 percent occupancy is generally considered the threshold where hotels can raise room rates and generate more revenue.
Through the first quarter of this year, Sacramento-area hotel occupancy was 68.6 percent, up from 65.8 percent in the first quarter of 2013. The average daily room rate in this year's first quarter was $104.36, up from $99.54 in the year-ago period. Average revenue per room was $71.60, up 9.4 percent from the initial quarter of 2013.
(c)2014 The Sacramento Bee (Sacramento, Calif.)
Visit The Sacramento Bee (Sacramento, Calif.) at www.sacbee.com
Distributed by MCT Information Services