from San Diego Business Journal (March 27, 2015)
San Diego County’s hotel industry is on track to see another stellar year in 2015, and likely into 2016, said experts at a recent Lodging Industry Forecast forum in Carmel Valley.
The forum’s presenter, San Diego-based hospitality management and consulting firm R.A. Rauch & Associates Inc., expects local hotels this year to surpass the metrics for 2014, which was a solid year for the industry when it came to occupancy, room rates and revenue per available room (RevPar). This year should see at least 1 percent growth in occupancy over last year, with daily rates growing 5.4 percent and RevPar rising 6.5 percent. Company President Robert Rauch said the hotel industry is in the “early part of the seventh inning” when it comes to the post-recession recovery, with more room to grow both locally and nationally. “It’s still very tough to close deals with video-conferencing,” Rauch said, adding that corporate group meeting business also continues to improve locally and nationally thanks to the strong U.S. economy.