Lodging Report Indicates that May and the First Five Months of 2006 Have Been Strong for the Travel Industry
The latest data published by Smith Travel Research indicates good new for the lodging industry, including owners of vacation homes and other vacation rental properties. For May, occupancy rates are up 2.4% over the same month a year ago, an occupancy rate of 64.8%. For the five-month period of January through May, the occupancy rate is up 2.3%
Other measures of lodging profitability are even stronger. The average daily rate is up 6.7% for May and 6.6% for the year to date. The revenue per available room is up 9.2% for May and 9% for the year to date.
While these statistics reflect the hotel industry, we have found that they correlate strongly with the vacation rentals industry. Our own vacation rental cabins and cottages as well as the information we have received for the owners of other vacation rental homes indicate that the occupancy numbers are at least as strong as those reported for the hotel industry. Also, the revenue numbers for hotels are quite useful to vacation rentals owners in setting rates that are a bargain compared to hotels.
