GlobeSt.com UPDATE: Deep Discounting Continues but Hotel Broker Predicts Market Will Stabilize

ORLANDO-Deep discounting of metro Orlando’s 110,000 hotel rooms continues as Central Florida hoteliers anticipate Smith Travel Research’s Thanksgiving weekend occupancy and room-rate data next week. Most expect the numbers will be less than record-breaking.

For example, the last report for October showed an average 68% occupancy level at the end of month, following a disastrous plateau of 30% the weekend following the Sept. 11 terrorist attacks in New York and Washington, DC. Normal occupancy levels in the comparable period are 70% to 90%. The break-even point is 65%.

September occupancy averaged 44.6% versus an average 62.1% in August. Average daily room rates in the last week of October were in the $75 to $77 range. A year ago, the range was $85 to $88.