Reports: US hotel market stronger; slower start for SD County
from the San Diego Daily Transcript, March 22, 2012:
…”San Diego hotel consultant and developer Robert Rauch, who had been upbeat about recent improvements in occupancy and RevPAR, said he would feel better if the numbers had been stronger in January and February.
“We don’t like to use one or two months to determine a trend, but we haven’t seen any improvement in rate yet,” Rauch said.
However, Rauch emphasized that a couple of large events can mean a complete turnaround on the numbers.
As for whether he is projecting a RevPAR increase of 5.8 percent this year to match PKF’s forecast, Rauch said he didn’t think the number would be that high here.
“About a 5 percent increase is what I’d expect,” Rauch said.”
“Rauch projects San Diego County’s hotel occupancy, which he said ended last year at 68.9 percent, will climb to slightly more than 70 percent by the end of 2012.”
“Rauch said the average daily rate in San Diego County, which he reported closed out last year at $124, should be at about $130 by the end of this year.”
