Hotel Occupancy Rates Drop in State

As previously reported in GlobeSt.com, the average occupancy rate for Denver-area hotels was 55% in February, unchanged from a year earlier, while the average room rate dropped to $80.65 from $82.23.

In the first two months of the year, the statewide average occupancy rate was 52.7%, up slightly from 52.2% through February 2003, while the average room rate in February was $107.79, compared to $105.19 in the same time period last year.

The report shows that the highest average room rates were found in the glitzy ski resort of Aspen, where an average room would have cost you $393.43 per night. The average occupancy rate in Aspen was 75.5%.

Vail bested Aspen as far as filling rooms in February, with an average occupancy rate of 80.8%. However, Vail failed to match Aspen's lofty room rates. In Vail, the average room rate was $317.38. It was the only sub market in the state other than Aspen to break the $300 per night room rate average. Or $200 per night, for that matter.

After Aspen and Vail, the highest rates were found in "other resorts." Resorts not specifically listed that have hotels include Telluride, Steamboat Springs, Crested Butte, Breckenridge, Keystone and Copper Mountain. Hotels in the other resort areas averaged $193.99 with a 59.2% occupancy rate.

Class-A hotels in Colorado Springs had an average occupancy rate of 60.5% and an average room rate of $76.80. Older and less well-located hotels in Colorado Springs were considerably cheaper at $51.38 per night and with an average occupancy rate of 54.2%.