Glenwood hotel rates up, occupancy dips
August 26, 2008
GLENWOOD SPRINGS ” Glenwood Springs hotels logged a steady first half of 2008 despite a dip in occupancy for three of the first six months of the year.
The Rocky Mountain Lodging Report, which tracks aggregated data statewide, including room occupancy rates and average daily rates ” per room, per night ” showed a 2.2 percent drop in occpancy rates through June, though the average daily rate increased by $8.10 during the first half of the year.
“Occupancy in aggregated data since the first of the year is down very little, however the (average daily rate) is up, and that is huge,” said Kate Collins, the director of tourism and marketing for the Glenwood Springs Chamber Resort Association.
The occupancy rate for Glenwood Springs was 69.78 percent for 2007; it was at 65.95 percent for the first half of 2008. January saw the highest percentage increase so far this year, up 4.4 percent from 54.3 in January 2007. However, March, May and June showed decreases in occupancy rates of 3.8, 14.2, and 5.3 percent, respectively. With the year’s busiest months typically being July and August, the year could still close on an upswing.
Despite the slightly lower occupancy levels, the average daily rate was up $8.10 this year through June, compared to the same time period in 2007. Through June, the average for Glenwood hotels was $107.03 per day, compared to $104.20 for all of 2007.
March, which saw a decrease in occupancy rates of 3.8 percent, posted the second highest average daily rate for the year at $113.95, up $14.13 from the same month in 2007.
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June saw the highest average rates so far at $120.90, but that was the lowest increase in the rate, based on a comparison with June 2007. It was up only $1.97.
Last year, the average rate climbed as high as $124.28 ” in July.
The drawback to the report’s data, according to Collins, is it doesn’t present a complete picture. Glenwood Springs has nearly 1,500 hotel rooms, but information for only about 800 of them is reflected in the Rocky Mountain Lodging Report. It’s only a sample of the overall market, she noted.