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Denver-Area Hotel Room Rate Rise

DENVER-The average daily hotel room rate in the metro area increases nearly 10% to $95.54 during February, according to a recent lodging report. The revenue per available room is also up, coming in at $57.75 compared with $52.71 a year earlier.

By John Rebchook | Updated on March 28, 2006

DENVER-The average daily hotel room rate in the metro area rose almost 10% to $95.54 in February, when compared with February 2005, shows the latest Rocky Mountain Lodging Report. The report, issued by Robert S. Benton & Associates, also shows for the first two months of the year, the average daily room rate was $93.38, 7% higher than the $87.20 posted during the same period in 2005.

Authored by Bob Benton, the report shows RevPar stood at $57.75 in February, compared with $52.71 a year earlier. Year-to-date, RevPar is at $54.77, about 11% higher than $49.23 in the first two months of 2005.

Leading the market last month as far as room rates was Downtown Denver. A total of 115,939 of the available 181,531 room nights were occupied in Downtown Denver in February. That translates to an overall occupancy rate of 63.9% for the month. And it could boast by far the highest average room night, as well as the highest RevPar, at $132 and $84.32, respectively.

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