The state's hotel market was slightly worse than the Denver metro area's performance. As earlier reported in GlobeSt.com, the metro area hotels averaged a 53.6% vacancy rate in April.The last time the state's occupancy rate was worse was in 1988, when the occupancy rate stood at 45.6%, Bob Benton, of Robert S. Benton & Associates, the author of the report, tells GlobeSt.com.
In April 2002, the average occupancy rate was 56.6%.
The average room rate in the state's hotels also fell.Room rates averaged $83.06 in April, compared with $88.29 in April 2002.
Year to date, the average occupancy rate is 52.4%, compared with 54.9% in the first four months of 2002. And the average year-to-date room rate is $101.51, compared with $100.28.
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