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State's Average Hotel Room Rate Sets Record

DENVER-According to a recent report, the average nightly room rate statewide hits a record $105.36, representing a 9% increase from 2004. The average occupancy rate also rises, posting at 59.9% versus 57.7% in the prior year.

By John Rebchook | Updated on January 31, 2006

DENVER-Statewide, the average nightly room rate in 2005 hit a record $105.36, according to the latest Rocky Mountain Lodging Report. That is 9% higher than the $96.65 average room night in 2004.

The research, collated and analyzed by Robert S. Benton & Associates Inc., puts average occupancy at 59.9% versus 57.7% a year ago. Only one month last year, March, failed to beat the prior year’s same month analysis. In March 2005, the average occupancy rate was 59.9% in comparison to 60.1% in March 2004.

Last December, the average occupancy rate hit 46.8%, a 0.5 point hike for the same period a year ago. But the average room rate soared to the highest monthly average of the year–a record $127.03 or an 11.9% increase from the December 2004 average of $96.65.

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