Operators of Sacramento-area hotels saw a significant increases in occupancy, average daily room rates and revenue per room in February, according to the San Francisco office of hotel industry tracker PKF Consulting USA.
PKF said the average occupancy rate among area hotels in February was 70.2 percent, up from 66.7 percent in February 2013. February’s occupancy rate also ran well ahead of January’s average of 61.5 percent.
Hotel industry analysts say the 70 percent occupancy threshold is generally where hotels can raise room rates and generate more revenue.
The average daily room rate in February was $104.49, compared with $99.28 in February 2013. Average revenue per available room in February was $73.39, up 10.8 percent from $66.21 in the year-ago period.
The February totals continued momentum established in January, when Sacramento hotels’ year-over-year totals for occupancy, room rates and revenue per room likewise increased year-over-year.
Among all Northern California jurisdictions monitored by PKF, San Francisco was a top performer with an 81.4 percent occupancy rate and average revenue per room of $186.85.