Although there are signs that tourism is starting to pick up locally, the Denver-area hotel market remained flat in June, according to the latest Rocky Mountain Lodging Report.
The report shows that in June, the occupancy level was 65.8%, slightly lower than the 69.3% in June 2002, according to the report authored by hotel consultant Robert Benton of Robert S. Benton & Associates. The average room rate was $92.75, compared with $92.55 in June 2002.
The report shows that downtown Denver fared the best of the submarkets, with an average occupancy rate of 80.8%. The city benefited from a Lion's Convention that brought in 12,000 visitors. The average daily room rate downtown also was by far the highest at $130.57.
While convention business is good, the independent business traveler has not returned to the market, Benton notes.
The small, north Denver market had the lowest occupancy rate at 59.2%. The other markets ranged from the high 60s to the mid 70s, according to the report.
Year-to-date, the average hotel occupancy rate is 57.9% and the average room rate is $84.11, compared with 60.1% and $84.25 in the first half of 2002.
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