Business & Real Estate

Sacramento hotels push 2014 occupancy rates above 70 percent

Sacramento-area hotel occupancy rates finished 2014 above the 70 percent threshold, according to the latest report by hotel industry tracker PKF Consulting USA.

San Francisco-based PKF said the average 2014 occupancy rate among area hotels was 72.6 percent, up from 69.9 percent in 2013. Hotel industry analysts say 70 percent occupancy is considered the point where hotels can comfortably raise rates.

Area hotels did well despite the usual December dip in room reservations. The local occupancy rate that month was 60.6 percent, an improvement over 58.4 percent in December 2013.

Revenue per available room in December was $61.81, compared with $57.02 the previous year. The average daily room rate was $101.94, up from $97.56 in the year-ago period.

December marked the 11th consecutive month of year-over-year improvements in occupancy, room rates and revenue per room.

San Francisco led all Northern California jurisdictions in December, with an 80.3 percent occupancy rate and average revenue per room of $190.56.

Call The Bee’s Mark Glover, (916) 321-1184.