Weekly lodging Report Shows Continued Strong Revenues and Slight Increases in Occupancy Rates
The latest weekly lodging report by Smith Travel Research shows continued strong increases in average daily rates for rooms (ADR) and in revenue per available room (RevPAR). For the week ending June 3, 2006, ADR was up 6.3% from the same week a year ago and RevPAR was up 6.8%. Occupancy rates were up only slightly, an increase of 0.5%.
These strong numbers bode well for the lodging industry in general, and vacation rentals specifically. Our experience and reports from others indicate that vacation rental occupancy is stronger than that of hotels as the summer season begins. The occupancy rate for hotels was only 61.3% for this week, while our own rentals and other luxury rentals in desirable destinations were almost completely booked. This has not always been the case. In some years the first week or two in June were slow to book up. Early indications are that this summer vacation season should be one of the most successful ever for the vacation rental business
If your own experience is not consistent with ours, you should carefully evaluate the advice we provide in our Vacation Rentals Newsletter
