A strong March helped Sacramento-area hotels exceed first-quarter 2014 numbers in three key sectors, according to San Francisco-based hotel industry tracker PKF Consulting USA.
PKF said the average occupancy rate among area hotels in March was a robust 79 percent, up nearly 5 percentage points from 75.3 percent in March last year. The average daily room rate in March was $113.36, a 6.4 percent gain over March 2014. Average revenue per available room in March this year was $89.54, up nearly 12 percent from $80.23 in the year-ago period.
Quarterly year-over-year improvements were seen across the board. Average first-quarter occupancy at area hotels was 71.5 percent, up 2.6 percent from 69.6 in the opening quarter of 2014. The average daily room rate was $110.78, up about 5 percent from $105.57; revenue per available room in this year’s initial quarter was $79.17, up 7.7 percent from $73.53 last year.
Hotel industry analysts say 70 percent occupancy is considered the point at which hotels can comfortably raise rates.
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San Francisco hotels led the Northern California region in March, with an average occupancy rate of 85.2 percent and average revenue per available room of $220.60.