In the first seven months of the year, the overall averageoccupancy percentage statewide is 57.4%, compared with 59.7%.Robert S. Benton, the author of the report, tells GlobeSt.com thatthe occupancy levels in July are nothing to crow about. "Last yearwas a pretty horrible year," so beating it was no greataccomplishment, he tells GlobeSt.com.
July, for seasonal reasons, tends to have the highest occupancyrates, he notes. In July 2000, hotel occupancy rates stood at 74%,while they were at 79.9% in July 1999. They set a recordperformance in July 1998 with an 81.5% occupancy rate, Bentonsays.
However, there are some bright spots throughout the state.
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
*May exclude premium content
Already have an account?
Sign In Now
© 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.
