The county's average daily room rate in June was $111.28, up 7% from the $103.95 recorded in June 1999, says PKF senior VP Bruce Baltin. Countywide occupancy jumped 6.2%, to 78.3% from 73.8%.
Although $111 a night doesn't sound like a bargain to many travelers, it's cheaper than the ADR in San Diego County ($132.37) and Los Angeles County ($119.27). Though Orange County has some of the nation's most expensive hotels, its average room rate is dragged down by the thousands of low-cost hotel rooms available around such popular attractions as Disneyland and Knott's Berry Farm.
The highest ADR was in Newport Beach at $153.46, up 7.7% from the $142.43 a year earlier. Occupancies in Newport Beach rose a hefty 8.3%, to 77.2% from 71.3% a year earlier, Baltin says.
South Orange County was the next most expensive area, with an ADR of $116.67, up 7.2% from the $108.81. Occupancy was a healthy 81.7%, up 7.4% from the 76% the previous year.
Anaheim, the home of Disneyland, had an ADR of $110.95. That was up 8.2% from $102.57 the previous year. The market's occupancy rate rose to 75.3%, up 5.3% from 71.5%, Baltin says.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
