In October 2002, occupancy rose 3% to 65% from 62%; average room rate dropped 3.3% to $91.56 from $94.71; and RevPAR was up 1.4% to $59.56 from $58.75. The numbers were reported by PKF Consulting, which monitors the hotel industry.

San Antonio's CBD, which had the highest numbers in October 2001, had the smallest increases. Occupancy was up a meager 0.7% to 70.1% from 69.3%. Both average room rate and RevPAR were down. The average room rate dropped 4.3% to $118.31 from $123.64 and RevPAR fell 3.2% to $82.94 from $85.70.

The biggest increases came in the city's south submarket. RevPAR in the submarket's hotels and motels leaped 31.8% to $31.78 from $24.11; occupancy jumped 11.8% to 54.1% from 42.3%; and average room rate increased 3% to $58.69 from $56.97.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
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.