That demand helped fill 69% of the top 10’s rooms – a 2 percentage-point improvement in a year. Occupancy ran just 61.5% in the other 35 counties, off 2.7 points in the 12 months.Those trends allowed owners in these 10 markets to push room rates up 6.2% to $193 a night vs. a 1.1% gain to $172 in the other 35 counties.California’s 68 million hotel nights sold was up 1.7% in a year vs. 634 million nationwide, up 2.6%. But California hotels were 67% full vs. 63% occupancy across the U.S.
And, to no surprise, the state was a pricier stay – $188 per night, up 4.9% in a year – compared with the U.S. room rate of $154, which is up 6.2% in a year.Here’s how the other members of the top 10 counties fared in 2023’s first half, ranked by their demand growth in a year …3.4 million nights sold, up 5.2% with 61% occupancy . Rates ran $174 per night , up 14.1% in a year .2.1 million nights, up 4.8% with 68% occupancy . Rates ran $184 per night , up 9.8% in a year .7.6 million nights, up 4.
Jonathan Lansner is the business columnist for the Southern California News Group. He can be reached at
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: ladailynews - 🏆 332. / 59 Read more »
Source: ladailynews - 🏆 332. / 59 Read more »
Stock market outlook: S&P 500 could triple on secular bull market cycleThe S&P 500 could triple to 14,000 by 2034 as secular bull market cycle takes hold
Source: BusinessInsider - 🏆 729. / 51 Read more »