Tourists continue to fill rooms, however, at Walt Disney Worldinns and lodges in the retail-intense International Drive corridorof south Orlando.

Lake Buena Vista, FL hotels, largely dominated by Disney's 12inns, was 70.7% full versus 70.2% occupancy last year at this time.International Drive hotels showed a 70.3% occupancy, second bestafter Lake Burena Vista, but still down from the 77.2% mark inAugust 1999.

While occupancy was up in the Disney area, room rates were down.The average nightly rate was $95.77 compared to $104.08 last year,an 8% decline. International Drive hotel rates, however, were up toan average $72.97 versus $69.93 a year ago, a 4.3% increase.

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.