Search
 

Hotel Industry On A Roll

DENVER-The average occupancy rate in March rises to 65.1%, compared with 58.8% a year earlier. In the first quarter, the average occupancy rate hits 60.9%, compared with 57.3% in the first three months of 2005.

By John Rebchook | Updated on April 26, 2006

DENVER-Denver area-hotels during March and in the first quarter improved by every measure, shows the latest Rocky Mountain Lodging Report. The average occupancy rate in March rose to 65.1%, compared with 58.8% a year earlier, while in the first quarter, the average occupancy rate hit 60.9%, compared with 57.3% in the first three months of 2005.

The average daily room rate rose to $95.86 in March, 10.57% higher than the $85.29 in March 2005. That is the largest month-over-month increase so far this year. In the first quarter, the average daily room rate rose 8.96% to $94.29, compared with $86.53 during the same period in 2005. Meanwhile, the revenue per available room, or RevPar, rose a whopping 24.5% to $62.39 in March, compared with $50.13 in March 2005. RevPar for the first quarter rose $15.8% to $57.38, compared with $49.54 in the first quarter of 2005.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 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.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.