Region Rings Up Plenty of Hotel Sales in 2011
From the San Diego Business Journal (Jan 2, 2012):
Hotel business has not returned to pre-recession levels, but experts say the segment registered year-over-year improvement in 2010 and 2011, and the general trend should carry forward in 2012.
“It’s not explosive growth, but it’s very positive,” said Robert Rauch, president of local hospitality consulting firm R. A. Rauch & Associates Inc., who also operates two Hilton-branded hotels in Carmel Valley.
San Diego County hotels were on track to finish 2011 with an overall occupancy rate around 69 percent. Rauch said it will likely be 2013 or 2014 before the region sees a return to the 73 percent occupancy rates seen in the peak 2007-08 period.
However, he said the region in the past year saw revenue per available room rise about 8 percent and room rates increase about 5 percent, both keeping ahead of inflation.
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