8 trends behind South Orange County’s $238-a-night hotel business
South Orange County area hotel room rates are higher year-to-date through May as occupancy decreased, a new report shows.
Here are eight trends to know from CBRE Hotels’ latest reports on how local operators are doing filling up their rooms vs. countywide patterns year-to-date through May …
1. South Orange County hotels charged an average $237.91 per night, up $6.39 in 12 months or 2.8 percent.
2. Think that’s pricey? Among seven Orange County regions tracked by CBRE, South Orange County ranked only No. 3 priciest.
3. Countywide, room rates averaged $191.36 per night, up $7.14 in a year or 3.9 percent.
4. South Orange County hotels in 2018’s first five months were 72.7 percent full, down from 76.5 percent a year earlier.
5. South Orange County ranked No. 6 among seven Orange County hotel districts in terms of hardest to find an empty room.
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6. Countywide occupancy was 79.5 percent, up from 79.3 percent a year earlier.
7. A key measure of hotel cash flow known as “RevPar” for South Orange County dropped 2.4 percent from a year earlier.
8. Countywide RevPar was up 4.1 percent in a year.
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