Occupancy in the tourist submarkets of International Drive, East and West Kissimmee and Lake Buena Vista (Walt Disney World) are down from July 2000 but still in the mid-70% range, or about 10 points higher than the national average of 63.7% cited by the American hotel & Lodging Association.
Average daily room rates are down in the submarkets of North Orlando, East and West Kissimmee and Lake Buena Vista but up in the other four monitored markets.
"The market is holding generally well in spite of negative domestic and international economic news," Robin L. Webb, a hospitality industry consultant for 30 years and vice president/managing broker, Arvida Realty Services Commercial Division, Winter Park, FL, tells GlobeSt.com.
Continue Reading for Free
Register and gain access to:
- 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
© 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.
