Both reports are authored by Bob Benton of Robert S. Benton& Associates. October marks the fifth consecutive month thatoccupancies bested the same month in 2003. Indeed, there have onlybeen two months this year, February and May, when occupanciesfailed to improve from a year before. Year-to-date, the occupancyrate stands at 59.9%, compared with 58.3% through October 2003.
Average room rates are showing a similar trend. In October, theaverage room rate was $88.63, compared with $86.68 in October 2003.October was the fourth consecutive month of improving rates fromthe like month in 2003.
Room rates only failed to improve in two months--June and July.Year-to-date, the average room rate stood at $96.10, compared with$95.22 through October 2003.
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.
